Back
14 Mar 2013
Forex: EUR/USD hovering over 1.2950/55
After a failed attempt to break above 1.2980 overnight, the single currency retreated to the current area of 1.2950/55
The sentiment surrounding the euro is now dominated by the pessimism after strong US data dragged the cross to fresh 2013 lows on Wednesday
Next on tap will be the Spanish retail sales, preceding the EMU unemployment rate. Across the pond, the weekly report on the US labor market would be in the limelight ahead of producer prices.
At the moment, the cross is down 0.05% at 1.2954 with the next support at 1.2923 (low Mar.13) ahead of 1.2881 (low Dec.10) and finally 1.2878 (low Dec.7)
On the upside, a breakout of 1.3075 (high Mar.12) would bring 1.3128 (MA100d) and then 1.3135 (high Mar.8).
The sentiment surrounding the euro is now dominated by the pessimism after strong US data dragged the cross to fresh 2013 lows on Wednesday
Next on tap will be the Spanish retail sales, preceding the EMU unemployment rate. Across the pond, the weekly report on the US labor market would be in the limelight ahead of producer prices.
At the moment, the cross is down 0.05% at 1.2954 with the next support at 1.2923 (low Mar.13) ahead of 1.2881 (low Dec.10) and finally 1.2878 (low Dec.7)
On the upside, a breakout of 1.3075 (high Mar.12) would bring 1.3128 (MA100d) and then 1.3135 (high Mar.8).