EUR/USD: Ranging around 1.3200

The EUR/USD trades steady in a quiet range since late Wednesday, hovering around the 1.3200 price zone. Former support around 1.3240/50 is now acting as resistance, attracting selling interest, while 1.3170 continues to offer support on dips. Technically, the picture remains bearish according to the 4 hours chart, with 20 SMA bending lower above current price and indicators now flat in negative territory. And from the fundamental side, things are not much better: the IMF announced yesterday it

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