Daily Recommendations on Major - EUR/USD
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Update Time: 24 Apr 2019 05:30 GMT
EUR/USD - 1.1217
Despite yesterday's expected resumption of recent decline from Apr's 1.1325 to a near 3-week low of 1.1192 due to renewed usd's strength in New York morning, failure to re-test Apr's 1.1184 trough and subsequent rebound to 1.1231 (Australia) suggests initial choppy range trading is in store.
Above 1.1231/36 may risk stronger retracement to 1.1262/63 but 1.3104 should cap upside whilst below 1.1192 would yield re-test of 2019 bottom at 1.1177, break would head to 1.1125/30.
On the eco. data front, France will kick off with business climate, then pay attention to key German Ifo business climate, current conditions n expectations, then lastly, Italy's trade balance.
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