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14 May 2013
Forex: EUR/USD around 1.3000 ahead of German CPI
FXstreet.com (Barcelona) - After surpassing 1.3020 overnight, the shared currency returned to the boundaries of the psychological mark at 1.3000 on Tuesday, ahead of the German consumer prices during April due later. Prior surveys expect the CPI to post an annual expansion of 1.2% vs. March’s 1.4% and the HICP to decelerate to 1.1% vs. 1.8% in the previous print.
As of writing, the cross is up 0.26% at 1.3009 with the next resistance at 1.3051 (high May 10) followed by 1.3075 (MA21d) and then 1.3100 (MA10d).
On the flip side, a drop beyond 1.2932 (61.8% of 1.2740-1.3243) would expose 1.2916 (daily cloud base) and finally 1.2850 (76.4% of Apr. range).
As of writing, the cross is up 0.26% at 1.3009 with the next resistance at 1.3051 (high May 10) followed by 1.3075 (MA21d) and then 1.3100 (MA10d).
On the flip side, a drop beyond 1.2932 (61.8% of 1.2740-1.3243) would expose 1.2916 (daily cloud base) and finally 1.2850 (76.4% of Apr. range).