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11 Apr 2013
Forex: EUR/USD muted after German inflation
FXstreet.com (Barcelona) - The shared currency attempted a rebound to 1.3080 soon after German Consumer Prices rose 0.5% MoM and 1.4% YoY, in line with market expectations. The bounce however probed to be short-lived, as the pair soon retreated around 1.3065/70.
Next on tap in the euro area will be the French CPI ahead of the ECB Monthly Report and a 3-year bond auction in Italy.
At the moment the cross is down 0.02% at 1.3067 with the immediate support at 1.3006 (low Apr.9) ahead of 1.2963 (low Apr.8) and finally 1.2928 (MA10d).
On the upside, a breach of 1.3135 (high Mar.8) would expose 1.3163 (high Feb.28) and then 1.3229 (50% of Feb-Apr slide).
Next on tap in the euro area will be the French CPI ahead of the ECB Monthly Report and a 3-year bond auction in Italy.
At the moment the cross is down 0.02% at 1.3067 with the immediate support at 1.3006 (low Apr.9) ahead of 1.2963 (low Apr.8) and finally 1.2928 (MA10d).
On the upside, a breach of 1.3135 (high Mar.8) would expose 1.3163 (high Feb.28) and then 1.3229 (50% of Feb-Apr slide).