The EUR/USD prices continue to be traded within the daily Bollinger bands, the upper band stopped the upside movement at 1.2389 before retreating and close at 1.2301. Its failure on Friday to close above a key technical level near $1.2336 will keep the short-term bearish trend intact. However, the euro downside was likely to be limited ahead of the Fed and the ECB policy meetings. Therefore we expect that prices would probably stay range bound and move sideways.
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