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28 Feb 2013
Forex: EUR/USD little changed after German data
The single currency keeps the flat tone after the German jobless rate came in at 6.9% during February, matching January’s print albeit short of expectations at 6.8%. In addition, the unemployment change fell 3K, missing estimates at -5K and previous at -14K.
Inflation figures in the bloc and Germany are due next, ahead of the US GDP during the fourth quarter.
As of writing, the pair is losing 0.04% at 1.3131 with the immediate support at 1.3100 (psychological level) ahead of 1.0347 (Ichimoku Cloud base) and then 1.3041 (low Feb.27).
On the flip side, a breakout of 1.3163 (high Feb.28) would aim for 1.3200 (psychological level) and finally 1.3226 (Tenkan-Sen line).
Inflation figures in the bloc and Germany are due next, ahead of the US GDP during the fourth quarter.
As of writing, the pair is losing 0.04% at 1.3131 with the immediate support at 1.3100 (psychological level) ahead of 1.0347 (Ichimoku Cloud base) and then 1.3041 (low Feb.27).
On the flip side, a breakout of 1.3163 (high Feb.28) would aim for 1.3200 (psychological level) and finally 1.3226 (Tenkan-Sen line).