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EUR Trading Outlook (12-03-2014)

AUD/USD: A test of 0.8920/35 support ( 55 DMA, cloud top) looks likely if risk sentiments remains negative. If breaks, then last week’s low of 0.8891 should be tested. However, with Oz employment data coming out tomorrow, it should be hard to test that level yet but if the data disappoints, we could see AUD/USD see January low tested.

EUR/USD: Long upper & lower wicks on recent daily candlesticks suggest consolidation is taking hold. With little data due until Thursday and Friday, ranges may hold.

Back to EUR Trading Outlook Archive

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