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5 Apr 2013
Forex: EUR/USD around 1.2925/30 after EMU GDP
FXstreet.com (Barcelona) - The cross found bids around the key support of 1.2900 on Friday, gathering some traction after the EMU GDP for the first quarter contracted 0.6% QoQ, matching the previous reading. Continuing with the euro zone data, retail sales posted an annual contraction of 1.4%, bettering expectations at -1.8%.
Next on tap in the euro area will be German Factory Orders, expected to grow 1.2% over the last twelve months.
At the moment, the cross is losing 0.10% at 1.2923.
A breakdown of 1.2893 (MA200d0 would expose 1.2849 (MA10d) en route to 1.2747 (low Apr.4).
On the upside, resistance levels align at 1.2949 (high Apr.4) ahead of 1.3050 (high Mar.25) and then 1.3107 (high Mar.15).
Next on tap in the euro area will be German Factory Orders, expected to grow 1.2% over the last twelve months.
At the moment, the cross is losing 0.10% at 1.2923.
A breakdown of 1.2893 (MA200d0 would expose 1.2849 (MA10d) en route to 1.2747 (low Apr.4).
On the upside, resistance levels align at 1.2949 (high Apr.4) ahead of 1.3050 (high Mar.25) and then 1.3107 (high Mar.15).