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EUR/USD

Published 05/01/2008, 08:00 PM

Resistance levels: 1.5500/1.5550/1.5600/1.5650
Support levels: 1.5420/1.5370/1.5340


EUR/USD has traded without clear direction earlier today as markets are waiting for US Non Farm Payrolls numbers at 12:30 GMT The consensus is about -75 K On downside, if the number comes out at 0.0 or higher sharp fall towards 1.5350-40 region may be seen after the event First Support comes at 1.5420 bottom On the upside, a break beyond 1.5600 is needed for reversal in the bias towards 1.5700 In short term if the number comes out at -140 K or more negative, sharp pullback up to 1.5600 after the event is likely to be seen and even 1.5650 in mid term

Strategy-neutral

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