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EUR Trading Outlook (02-01-2013)

The Euro (EUR) the EUR/USD tested 1.3300 resistance in the post fiscal cliff deal rally in Asia. The upside range has been at 1.3300 over the last few months and a break and close above could lead to further gains. EUR/JPY is leading the pack higher with a 170pip rally in Asia. The resistance at Y116 held on the first attempt but traders have been very aggressive on the EUR/JPY lately so it could be just a matter of time before we break higher.

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