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EURUSD Against the ECB Rate Decision

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EURSD has found support at 1.3000 for the past week. If it continues bouncing against this support level, the trend for the next week may be bullish. However a lot depends on the ECB’s decision about the interest rate on May 2nd.

If the rate is cut, it will put a pressure on EUR and we will see the pair going down into below the current support level. It will result in a bearish trend extending into the coming weeks.

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