EURUSD consolidates in expectation for IFO index

EURUSD forms the first support level at 1.2880. The support is strong, as the break below will open the way for at least 40 pips move down. The next support level is at 1.2843. At the moment EURUSD trading slowly consolidates at the current levels in expectation for decision of Cyprus bank crisis. There are important Germany data today for IFO indexes at 9:00 AM GMT. The first trading strategy of today is to trade within the trading range 1.2880 and 1.2955.

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