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11 Mar 2013
Forex: EUR/USD posting highs after German trade data
The bloc currency is posting fresh session highs in the vicinity of 1.3020 on Monday after German trade surplus came in below expectations during January, falling to €15.7 billion from €16.9 billion in the previous month. The median was at €15.8 billion.
Next on tap would be French Industrial Output followed by Italian final GDP figures during the fourth quarter.
As of writing, the cross is up 0.16% at 1.3016 facing the next resistance at 1.3055 (MA200h) en route to 1.3135 (high Mar.8) and finally 1.3163 (high Feb.28).
On the flip side a breakdown of 1.2956 (low Mar.8) would open the door to 1.2929 (low Dec.11) and then 1.2881 (low Dec.10).
Next on tap would be French Industrial Output followed by Italian final GDP figures during the fourth quarter.
As of writing, the cross is up 0.16% at 1.3016 facing the next resistance at 1.3055 (MA200h) en route to 1.3135 (high Mar.8) and finally 1.3163 (high Feb.28).
On the flip side a breakdown of 1.2956 (low Mar.8) would open the door to 1.2929 (low Dec.11) and then 1.2881 (low Dec.10).