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29 Apr 2013
Forex: EUR/USD gyrating around 1.3050
FXstreet.com (Barcelona) - Positive news from Italy’s new coalition government over the weekend lifted the cross to the boundaries of 1.3070 overnight, although the upside lost impetus and dragged the cross back to the current mid 1.30s.
Ahead in the day Spanish Retail Sales and EMU’s Consumer Confidence are due, preceding a key 10-year auction of bonds in the Italian markets.
As of writing, the cross is losing 0.02% at 1.3045 facing the next resistance at 1.3094 (high Apr.25) ahead of 1.3130 (high Apr.19) and then 1.3202 (high Apr.16).
On the flip side, a breach of 1.2988 (low Apr.25) would the target 1.2954 (low Apr.24) en route to 1.2948 (MA200d).
Ahead in the day Spanish Retail Sales and EMU’s Consumer Confidence are due, preceding a key 10-year auction of bonds in the Italian markets.
As of writing, the cross is losing 0.02% at 1.3045 facing the next resistance at 1.3094 (high Apr.25) ahead of 1.3130 (high Apr.19) and then 1.3202 (high Apr.16).
On the flip side, a breach of 1.2988 (low Apr.25) would the target 1.2954 (low Apr.24) en route to 1.2948 (MA200d).