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12 Apr 2013
Forex: EUR/USD challenges 1.3100
FXstreet.com (Barcelona) - The single currency is correcting lower on Friday, hovering over the key support at 1.3100 after the Wholesale Prices in the German economy came in softer in March. In fact, prices contracted 0.2% on a monthly basis and rose 0.3% over the last twelve months, vs. February’s 0.1% and 1.4% respectively.
Next on tap in the euro area will be the French Current Account ahead of the inflation figures in Spain and Italy.
At the moment, the cross is up 0.01% at 1.3100 facing the next resistance at 1.3146 (MA55d) followed by 1.3148 (MA100d) and then 12.3163 (high Feb.28).
On the downside, a breach of 1.3044 (hourly lows Apr.11) would expose 1.3006 (low Apr.9) and finally 1.2963 (low Apr.8).
Next on tap in the euro area will be the French Current Account ahead of the inflation figures in Spain and Italy.
At the moment, the cross is up 0.01% at 1.3100 facing the next resistance at 1.3146 (MA55d) followed by 1.3148 (MA100d) and then 12.3163 (high Feb.28).
On the downside, a breach of 1.3044 (hourly lows Apr.11) would expose 1.3006 (low Apr.9) and finally 1.2963 (low Apr.8).