EUR Trading Outlook (02-05-2014)
AUD/USD: Current pivot at 0.9315, support at 0.9245, 0.9225 and 0.9210. Range trading is still the game plan, market awaits for NFP data for further movements.
EUR/USD: Early Europe session pushed the pair above 1.3880 resistance to a high of 1.3889. However, offers at 1.3900-05 capped bulls and the pair dropped back down below 1.3880. Current action will still be limited as market awaits for NFP. The ECB is hoping for a well above f/c result as the USD should firm and it relieves some pressure for the bank to act sooner than later. For now the broad 1.3670-1.3970 range remains.
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