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15 Mar 2013
Forex: EUR/USD well supported by 1.3000
The single currency is stabilizing above the key level of 1.3000 on Friday, keeping alive yesterday’s rally post-jobs data in the US.
Next on tap in the euro area will be the inflation figures for the month of February in the euro area, expected to rise 1.8% on a yearly basis, down from 2.0% previous.
At the moment, the cross is up 0.16% at 1.3024 with the next resistance at 1.3075 (high Mar.12) ahead of 1.3124 (MA21d) and then 1.3127 (MA100d).
On the downside, a breach of 1.2910 (76.4% of Nov-Feb rise) would expose 1.2881 (low Dec.10) and finally 1.2878 (low Dec.7).