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29 Mar 2013
Forex: EUR/USD unchanged around 1.2815/20
FXstreet.com (Barcelona) - The single currency remains flat on Good Friday, orbiting around 1.2815/20 ahead of the meeting between P.L.Bersani and G.Napolitano in Italy, as it will be the most relevant event of the day.
In the data front, preliminary Italian inflation figures showed that CPI rose 1.7% YoY in March and 0.3% on a monthly basis, below the median at 1.8% and 0.4%, respectively. In the meantime, retail sales in Greece plummeted 16.4% over the last twelve months, extending the negative momentum in the retail sector.
At the moment, EUR/USD is flat at 1.2815 with the immediate resistance at 1.2867 (high Mar.27) ahead of 1.2883 (MA200d) and finally 1.2890 (high Mar.26).
On the flip side, a breakdown of 1.2751 (low Mar.27) would aim for 1.2730 (low Nov.19) and finally 1.2685 (weekly cloud base).
In the data front, preliminary Italian inflation figures showed that CPI rose 1.7% YoY in March and 0.3% on a monthly basis, below the median at 1.8% and 0.4%, respectively. In the meantime, retail sales in Greece plummeted 16.4% over the last twelve months, extending the negative momentum in the retail sector.
At the moment, EUR/USD is flat at 1.2815 with the immediate resistance at 1.2867 (high Mar.27) ahead of 1.2883 (MA200d) and finally 1.2890 (high Mar.26).
On the flip side, a breakdown of 1.2751 (low Mar.27) would aim for 1.2730 (low Nov.19) and finally 1.2685 (weekly cloud base).