EUR/USD
May 27th, 2008
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Progress higher in EUR/USD looks difficult. Today another attempt for break above 1.5810/20 failed. EUR sales were accelerated by softer than expected GFK consumer confidence numbers from Germany and rumours of a European bank in trouble after the ECB’s overnight lending facility was used. Watch the support @ 1.5690. If this week US data come stronger than expected we can see a break lower.
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