#EURUSD @ 1.07272 : Below the 1.0715/25 area there is not much support until 1.0500/0515 – ING
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EUR/USD continues to edge lower. Economists at ING note that a break below the 1.0715/25 area could trigger a substantial decline.
“Doubts over Chinese growth prospects and growing views that there remains unfinished business in the Fed’s tightening cycle are weighing on EUR/USD.”
“The pair has some decent support around the 1.0715/25 area, below which there is not much support until 1.0500/0515. That is the risk unless tomorrow’s US April core PCE deflator shows a sizable fall.”
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