Forex: EUR/USD finds support at 1.4070
Tue, Jun 23 2009, 20:56 GMT
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FXstreet.com (Córdoba) – The Dollar is falling strong for the day. In the last hours it was able to recover a small part to the losses. EUR/USD found support at 1.4070 after pulling back from 1.4105. The Euro was able to finally break above 1.4000 on Tuesday. Current price at 1.4080 is 1.63% above today opening price.
Against the Pound, the Euro rose strong. EUR/GBP tested the zone of 0.8600 but failed to break above and rebounded to 0.8550. The pair is heading to the second day with gains rising more than 150 pips from 6-month low at 0.8400 reached on Monday.

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Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
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