Sell EURINR; Target Of 71.80

Euro is trading at 1.0535 , after making a high of 1.0623 during the NFP data release. Traders have attributed the rise in Euro to short covering but the longer term picture remains to be negative for the shared currency.

German import and industrial production on tap for the day but expect a slow start to the Euro and a recovery in weakness during the European session.

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