Looking at EURUSD’s chart, we can see that the FX pair is in a downtrend today, and it is currently traded 25 pips above its support level, at the rate of $1.0735. Today, if it holds above the support level of $1.07-1.0710, we could expect it to rise towards its resistance level at around $1.0820. Its direction will also depend on the US’ announcements at 15:30 (GMT+3) on durable goods orders and on the PCE price index.
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EUR/USD battles 1.0700 after mixed Eurozone data
EUR/USD has come under renewed selling pressure, battling 1.0700 after mixed Eurozone Retail Sales data for April. The pair remains undermined by the cautious market mood, disappointing German Factory Orders and a broad US Dollar rebound.
GBP/USD turns south toward 1.2400 as US Dollar recovers
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Gold oscillates around $1,960 amid mixed responses to Fed’s June policy
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Markets are likely to focus on ECB commentary
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