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Forex: EUR/USD holding on to 1.3000

FXstreet.com (Barcelona) - A tug-of-war is unfolding in the surrounding of the 1.3000 handle on Friday, although the euro has managed quite well to cling to the psychological figure so far, as the risk-off atmosphere continues to dominate the sentiment.

Kit Juckes, Analyst at Societe Generale, commented, “ In the slightly longer run (3-12 months, say), I suspect we are still in a risk-friendly world. Monetary policy is not going to be tightened, a return to recession in the US is unlikely, and the collapse of the Euro Zone is no more imminent than usual. But it's still May, not too late for a risk sell-off and a stronger dollar can be as good a catalyst as any”.

At the moment, EUR/USD is down 0.28% at 1.3004 and a breach of 1.2992 (MA200d) would bring 1.2988 (low Apr.25) and then 1.2954 (low Apr.24).
On the flip side, the first hurdle is located at 1.3075 (MA21d) ahead of 1.3100 (MA10d) and then 1.3194 (high May 8).

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