Back
3 Apr 2013
Forex: EUR/USD in highs on IMF announcement
FXstreet.com (Barcelona) - The bloc currency is climbing to fresh session highs in the boundaries of 1.2840 after the IMF informed that it will contribute with €1 billion to Cyprus deal. In the same line, Cypriot officials said the country will raise the corporate tax to 12.5% from 10%.
In the data front, the preliminary EMU CPI posted an annualized expansion of 1.7% in March, banging on estimates and lower than February’s 1.8%.
As of writing, the pair is up 0.07% at 1.2829 facing the next hurdle at 1.2886 (MA200d) ahead of 1.2890 (high Mar.26) and then 1.2943 (MA21d).
On the downside, a break below 1.2751 (low Mar.27) would open the door to 1.2730 (low Nov.19) and finally 1.2680 (61.8% of 1.2042-1.3711).
In the data front, the preliminary EMU CPI posted an annualized expansion of 1.7% in March, banging on estimates and lower than February’s 1.8%.
As of writing, the pair is up 0.07% at 1.2829 facing the next hurdle at 1.2886 (MA200d) ahead of 1.2890 (high Mar.26) and then 1.2943 (MA21d).
On the downside, a break below 1.2751 (low Mar.27) would open the door to 1.2730 (low Nov.19) and finally 1.2680 (61.8% of 1.2042-1.3711).