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28 Mar 2013
Forex: EUR/USD dips to lows around 1.2760
FXstreet.com (Barcelona) - The bloc currency found buying interest in the area of 1.2760, after posting fresh session lows on softer-than-expected employment data from Germany. The jobless rate in the first economy of the euro zone stayed put at 6.9% in March, although the unemployment rose by 13K from February’s 0K (revised).
Further data in the euro area showed that EMU M3 Money Supply expanded 3.1% YoY vs. 3.3% expected and Private Loans contracted at an annual pace of 0.9%, banging on estimates.
EUR/USD is now losing 0.07% at 1.2767 and a breach of 1.2730 (low Nov.19) would aim for 1.2685 (weekly cloud base) and then 1.2680 (61.8% of 1.2042-1.3711).
On the upside, resistance levels line up at 1.2922 (MA10d) ahead of 1.3050 (high Mar.25) and finally 1.3107 (high Mar.15).
Further data in the euro area showed that EMU M3 Money Supply expanded 3.1% YoY vs. 3.3% expected and Private Loans contracted at an annual pace of 0.9%, banging on estimates.
EUR/USD is now losing 0.07% at 1.2767 and a breach of 1.2730 (low Nov.19) would aim for 1.2685 (weekly cloud base) and then 1.2680 (61.8% of 1.2042-1.3711).
On the upside, resistance levels line up at 1.2922 (MA10d) ahead of 1.3050 (high Mar.25) and finally 1.3107 (high Mar.15).