EUR/USD
April 29th, 2008
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EUR/USD is pausing for a breath after the fall from 1.60 and before the FOMC meeting. The market is expecting 25 bp rate cut and probably FED will deliver it. If teh statement of the meeting sounds hawkish or even less dovish another leg down for EUR/USD is expected. First major support is 1.5510, then 1.5340. If the latter is broken a deeper correction towards 1.5000 is expected.
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