EUR/USD: The euro rallied, hovering towards a near 7-week peak hit in the previous session, as investors await the European Central Bank policy decision on Thursday, where it is expected to provide banks with new longer-term refinancing operations, loans at super low, probably negative interest rates. The European currency traded 0.1 percent up at 1.1259, having touched a high of 1.1277 on Tuesday, its highest since Apr. 18. Investors’ attention will remain on a series of data from the Eurozone economies, EZ producer price index and retail sales, ahead of the U.S. ADP employment change, service PMI from both Markit and ISM and Fed Clarida’s speech. Immediate resistance is located at 1.1304 (Apr. 18 High), a break above targets 1.1344 (March 15 High). On the downside, support is seen at 1.1210 (Apr. 8 Low), a break below could drag it below 1.1183 (April 2 Low).
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