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9 Apr 2013
Forex: EUR/USD hovering over 1.3030/35
FXstreet.com (Barcelona) - The bloc currency is giving away overnight gains on Tuesday, falling from the proximity of 1.3070 to the current area of 1.3035/40 despite the positive data from the German trade balance. In fact, the trade surplus surprised investors widening to €17.1 billion in February vs. €15.1 billion forecasted and €15.6 billion previous. Exports contracted 1.5% while imports retreated 3.8%.
Next on tap in the euro are will be the French trade balance figures, with prior surveys expecting the trade deficit to narrow to €5.0 billion in February from €5.9 billion in the previous month.
At the moment, the cross is up 0.19% at 1.3036 with the next resistance at 1.3040 (high Apr.5) followed by 1.3050 (high Mar.25) and then 1.3107 (high Mar.15).
On the downside, a breach of 1.2918 (MA21d) would bring 1.2896 (MA200d) and finally 1.2868 (MA10d).
Next on tap in the euro are will be the French trade balance figures, with prior surveys expecting the trade deficit to narrow to €5.0 billion in February from €5.9 billion in the previous month.
At the moment, the cross is up 0.19% at 1.3036 with the next resistance at 1.3040 (high Apr.5) followed by 1.3050 (high Mar.25) and then 1.3107 (high Mar.15).
On the downside, a breach of 1.2918 (MA21d) would bring 1.2896 (MA200d) and finally 1.2868 (MA10d).