The ECB stepped in yesterday with interest rates unchanged at 1.00%, with trichet's statement of maybe putting a floor to rate cuts, the pair seems to have found a sudden shift in the bearish momentum prior to the interest rate statement. Traders might get the cue today from the all important NFP data in the US today. We might see further bullish momentum if the pair manages to break clearly above the 1.4350 level or bearish momentum if the pair does break below 1.4050.
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