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30 Apr 2013
Forex: EUR/USD around 1.3100 after German data
FXstreet.com (Barcelona) - The single currency eased to the proximity of the key support at 1.3100 on Tuesday after German Retail Sales disappointed investors during March, contracting 0.3% on a monthly basis and 2.8% over the last twelve months vs. forecasts at 0.0% and 1.2%.
Further data showed that the consumer confidence gauged by the Gfk survey improved to 6.2 for the month of May vs. the median at 5.9 and previous 6.0
As of writing, the cross is up 0.02% at 1.3102 with the next resistance at 1.3130 (high Apr.19) ahead of 1.3202 (high Apr.16) and then 1.3229 (50% of Feb-Apr slide).
On the flip side, a breakdown of 1.2988 (low Apr.25) would open the door to 1.2954 (low Apr.24) and finally 1.2948 (MA200d).
Further data showed that the consumer confidence gauged by the Gfk survey improved to 6.2 for the month of May vs. the median at 5.9 and previous 6.0
As of writing, the cross is up 0.02% at 1.3102 with the next resistance at 1.3130 (high Apr.19) ahead of 1.3202 (high Apr.16) and then 1.3229 (50% of Feb-Apr slide).
On the flip side, a breakdown of 1.2988 (low Apr.25) would open the door to 1.2954 (low Apr.24) and finally 1.2948 (MA200d).