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Forex: EUR/USD recovers ground around 1.3075/80

FXstreet.com (Barcelona) - After bottoming in the boundaries of 1.3050 on Draghi’s comments, the shared currency picked up pace and is now currently around 1.3075/80, albeit in the negative ground.

Light docket in the euro area awaits investors on Tuesday, as French Budget and Trade Balance figures are due, followed by the German Factory Orders. Across the pond, Consumer Credit Change and a speech by Treasury Secretary John Lew will be in the limelight.

EUR/USD is now retreating 0.34% at 1.3077 and a breach of 1.3033 (low May 3) would then target 1.3015 (low Apr.29) en route to 1.3010 (MA30d).
On the flip side, resistance levels line up at 1.3160 (high May 3) followed by 1.3220 (high May 2) and finally 1.3243 (high May 1).

Forex Flash: RBA to hold rates unchanged - UBS

The Reserve Bank of Australia is schedule to hold its monthly monetary policy meeting on Tuesday May 7th at 4:30 GMT (14:30 Sydney time). The market's consensus is the RBA to keep its interest rate unchanged at 3.0% and the UBS' analyst team expects the same but they are focusing in the possible dovish tone of the press release.
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Forex: GBP/JPY advances above 154.50

After retracing from the highest level since August 2009 at 154.77 to find support at 154.15, the GBP/JPY is trading in recovery mode and currently it is pricing above the 154.00 level again.
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