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2 Apr 2013
Forex: EUR/USD climbs to 1.2840 after German CPI
FXstreet.com (Barcelona) - The shared currency is hovering over the area of 1.2840/45 on Tuesday, after preliminary inflation figures in Germany showed the CPI rose 1.4% on a year to March, banging on estimates, and rose 0.5% on a monthly basis, above the 0.4% forecasted.
Regarding Cyprus, the finmin, M.Sarris has stepped down, although the single currency remains muted.
Next on tap will be the US Factory Orders, expected to grow 2.9% during February, leaving behind January’s contraction of 2.0%.
At the moment, the cross is down 0.05% at 1.2841 with the next support at 1.2751 (low Mar.27) ahead of 1.2730 (low Nov.19) and finally 1.2680 (61.8% of 1.2042-1.3711).
On the flip side, a break above 1.2886 (MA200d) would expose 1.2890 (high Mar.26) and finally 1.2943 (MA21d).