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Forex: EUR/USD little changed after Spanish PMI

FXstreet.com (Barcelona) - The euro attempted a rebound after the manufacturing PMI in the Spanish economy improved to 44.7 during April, exceeding the median at 43.9 and up from March’s 44.2.

In light of today’s ECB gathering, Currrency Analyst Christopher Vecchio at DailyFX commented, “The Euro’s direction hinges on what’s best for the Euro-zone growth picture, not necessarily the yield outlook. Bond markets have already priced a cut in, so if no rate cut comes, the Euro will be in a tough spot – either way, immense volatility is expected."

EUR/USD is now retreating 0.19% at 1.3153 with the immediate support at 1.3120 (hourly high Apr.30) ahead of 1.3065 (MA21d) and finally 1.2988 (low Apr.25).
On the flip side, a break above 1.3243 (high May 1) would aim for 1.3319 (high Feb.25) en route to 1.3343 (61.8% of Feb-Apr slide).

Forex: NZD/USD loses grip on 0.8500 level

The NZD/USD has been in retreat Thursday, falling a plunge yesterday that erased much of April’s gains. With a fresh weakness below the 0.8500 level during European trading, the pair is now settling in negative territory at 0.8471/77 at the time of writing.
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Forex: USD/CHF bouncing towards 0.9300 ahead of PMIs

The USD/CHF is climbing the chart after finding support at 0.9250 in yesterday trading in reaction to the FOMC meeting. The bouncing movement is only few pips from reaching the 0.9300 mark.
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