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10 Apr 2013
Forex: EUR/USD back to 1.3100 after Spanish data
FXstreet.com (Barcelona) - The single currency is gathering pace and is trading back around the 1.3100 level on Wednesday, despite the 6.5% annual contraction of the Spanish industrial output, missing the median and extending the negative momentum of the industrial sector in the Mediterranean country. Previous data showed that the industrial output in France advanced 0.7% in February, leaving behind January’s contraction of 5.0%.
Next on tap will be the Italian industrial output, expected to contract further to 4.3% in February from -3.6% previous.
At the moment, the cross is up 0.11% at 1.3099 with the next resistance at 1.3107 (high Mar.15) ahead of 1.3111 (38.2% of Feb-Apr slide) and 1.3135 (high Mar.80.
On the other hand, a break below 1.3006 (low Apr.9) would aim for 1.2963 (low Apr.8) and finally 1.2901 (MA200d).
Next on tap will be the Italian industrial output, expected to contract further to 4.3% in February from -3.6% previous.
At the moment, the cross is up 0.11% at 1.3099 with the next resistance at 1.3107 (high Mar.15) ahead of 1.3111 (38.2% of Feb-Apr slide) and 1.3135 (high Mar.80.
On the other hand, a break below 1.3006 (low Apr.9) would aim for 1.2963 (low Apr.8) and finally 1.2901 (MA200d).