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Forex: EUR/USD testing highs around 1.3180/85

FXstreet.com (Barcelona) - The steep bull correction in the cross is alive, now finding more oxygen to test previous highs in the region of 1.3180/85, as spiralling risk appetite increases the exodus from the safe havens.

It all started this morning after the German Industrial Production surpassed forecasts expanding 1.2% on a monthly basis, adding to the already upbeat data in the first economy of the bloc from Services PMI (Monday) and Factory Orders (Tuesday).

At the moment, the cross is advancing 0.74% at 1.3176 with the next hurdle at 1.3220 (high May 2) ahead of 1.3243 (high May 1) and finally 1.3319 (high Feb.25).
On the other hand, a breach of 1.3068 (low May 7) would open the door to 1.3052 (low May 6) and then 1.3033 (low May 3).

Forex: A Sterling come back meeting resistance 1.5548

It now try’s to hold onto levels above yesterdays fragile support line of 1.5520 and trades at the high for today’s sessions so far at 1.5548.
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Forex Flash: EUR/AUD supportive in the long term – ANZ

“Based on that outlook the time is ripe to unwind short-term exposures. That being said, fundamental underpinnings remain supportive for longer-term strength in the EUR/AUD.” notes FX Strategist Andrew Salter at ANZ. The flip side to devastatingly high euro zone unemployment rates are moderating unit labor costs and increased productivity. Current account balances are reflecting this increase in competitiveness.
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