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Tuesday, May 24th
EUR/USD traded in flat mode this morning, in 15 pips narrow range, around 1.12 level. Pair got support from unchanged data of German quarter GDP, reaching 1.1227 spot, with quick return to flat corridor. Now traders are awaiting for German ZEW economic sentiment survey to set up further actions direction. Moreover, pair will stay under the pressure as Fed and ECB have divergent monetary policy outlooks with more than just possible a Fed June rate hike. Today the pair will gain some fresh winds after German ZEW economic sentiment survey with US new home sales data coming ahead. Now pair is trading at 1.1212, with approximate support and resistance levels located at 1.1161 and 1.1301
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