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EUR Trading Outlook (08-04-2014)

AUD/USD: Support remains in the 0.9200/20 area with reports that large stops are building below that zone. For now, 0.9200/0.9310 range still in play, market may need to wait for the jobs number to come out for further confirmation on this pair.

EUR/USD: Overnight reaction was limited however, short covering started. Technical support in the 1.3680/00 zone and fading effects of Draghi’s ECB presser seemed to inspire the covering. Decent stops above 1.3750 were safe from last night, with little data due, market awaits for the Wednesday FOMC minutes.

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