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EUR Trading Outlook (05-03-2014)

AUD/USD: With the direction being unsure, the pair is sitting between 55 DMA on the bottom and the 10 & 21 DMA on top. A break out may due from today’s data as mentioned above if it comes in poor.

EUR/USD: EUR/USD spiked to a high of 1.3782 after Putin stepped back from using military force on Ukraine and ordered troops back to base. Consolidation of recent gains is more likely to hold ahead of ECB and current trend remain bullish. If ECB fails to act and Ukraine tensions ease further then more likely to see the pair test 2013 high.

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