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EUR/USD reaches 10-week high

EUR/USD opened at 1.1256 and fell to a low of 1.1200 before retracing to a 10 week high of 1.1370 aided by disappointing ADP employment data

By Richard Nehme | May 7, 2015 12:51 BST
Euro continues to benefit from weaker USD
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EUR/USD opened at 1.1256 and fell to a low of 1.1200 before retracing to a 10 week high of 1.1370 aided by disappointing ADP employment data, which showed an increase of 169,000 jobs in April, the lowest level since January 2014. With the official non-farm payrolls due for release tomorrow, if this echos the same results look for further volatility on the pair with resistance lying at 1.1423 and 1.1494 thereafter [...]

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