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23 Apr 2013
Forex: EUR/USD spiked 1.3080 on French PMI
FXstreet.com (Barcelona) - The shared currency climbed to the area of 1.3075/80 after the preliminary French manufacturing PMI for the month of April rose to 44.4, exceeding estimates at 44.3 and up from March’s 44.0. The prints eclipsed the poor Business Climate from the second economy of the bloc, falling to 88 in April from91 previous.
German and EMU manufacturing PMI are next, both expected to stay put at 49.0 and 46.8, respectively during April.
At the moment, the cross is up 0.04% at 1.3072 with the next resistance at 1.3130 (high Apr.19) followed by 1.3202 (high Apr.16) and finally 1.3229 (50% of Feb-Apr slide).
On the flip side, a breakdown of 1.3015 (low Apr.22) would open the door to 1.3001 (low Apr.17) and then 1.2969 (MA21d).
German and EMU manufacturing PMI are next, both expected to stay put at 49.0 and 46.8, respectively during April.
At the moment, the cross is up 0.04% at 1.3072 with the next resistance at 1.3130 (high Apr.19) followed by 1.3202 (high Apr.16) and finally 1.3229 (50% of Feb-Apr slide).
On the flip side, a breakdown of 1.3015 (low Apr.22) would open the door to 1.3001 (low Apr.17) and then 1.2969 (MA21d).