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19 Mar 2013
Forex: EUR/USD sedated around 1.2940/45, US data eyed
FXstreet.com (Barcelona) - The single currency remains apathetic in the vicinity of 1.2940/45 on Tuesday while waiting for the parliamentary vote on Cyprus’s bailout and the US data. Both Housing Starts and Building Permits are expected to rise to 915K and 925K during February, adding to the incipient recovery in the housing sector.
Recall that the ZEW Survey in Germany improved in both its components for the month of March - Economic Sentiment and Current Conditions - although these results have been eclipsed by EMU’s Economic Sentiment drop in the same period.
At the moment, the cross is down 0.10% at 1.2944 with the next support at 1.2883 (low Mar.18) ahead of 1.2878 (low Dec.7) and finally 1.2872 (MA200d).
On the flip side, a surpass of 1.2995 (high Mar.18) would accelerate the upside to 1.3009 (MA10d) and then 1.3074 (MA21d).
Recall that the ZEW Survey in Germany improved in both its components for the month of March - Economic Sentiment and Current Conditions - although these results have been eclipsed by EMU’s Economic Sentiment drop in the same period.
At the moment, the cross is down 0.10% at 1.2944 with the next support at 1.2883 (low Mar.18) ahead of 1.2878 (low Dec.7) and finally 1.2872 (MA200d).
On the flip side, a surpass of 1.2995 (high Mar.18) would accelerate the upside to 1.3009 (MA10d) and then 1.3074 (MA21d).