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1 Apr 2013
Forex: EUR/USD jumps above 1.2850 following ISM data
FXstreet.com (San Francisco) - The Euro has reacted to the upside against the US dollar following the worst than expected ISM data. After trading in range between 1.2805 and 1.2825, the pair has jumped around 40 pips in the latest few minutes to trades at daily highs at 1.2855.
ISM declined to 51.3 in March from 54.2 in February. About components the employment is growing faster at 54.2 points in march and New orders and Production also rise, while the prices dragged the index after slowing its rate by 7 points to 54.5
Currently the EUR/USD is trading at 1.2850, 0.33% above opening price. The pair is slightly bullish according to the FXstreet.com Trend Index. Indicators such as MACD, CCI and Momentum are bullish while Stochastic is bearish.
Above the 1.2850, next resistances are at 1.2870 (MA 200 hours) and 1.2880. On the downside, supports are at 1.2800, 1.2770 and 1.2750.
ISM declined to 51.3 in March from 54.2 in February. About components the employment is growing faster at 54.2 points in march and New orders and Production also rise, while the prices dragged the index after slowing its rate by 7 points to 54.5
Currently the EUR/USD is trading at 1.2850, 0.33% above opening price. The pair is slightly bullish according to the FXstreet.com Trend Index. Indicators such as MACD, CCI and Momentum are bullish while Stochastic is bearish.
Above the 1.2850, next resistances are at 1.2870 (MA 200 hours) and 1.2880. On the downside, supports are at 1.2800, 1.2770 and 1.2750.