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19 Apr 2013
Forex: EUR/USD around 1.3085/90, focus on Italy
FXstreet.com (Barcelona) - The bloc currency is now meandering around 1.3085/90, breaking above the prevailing congestive pattern around 1.3060 on Friday. In the meantime, the third Italian elections have yielded no winners so far, although the 5-Star candidate Stefano Rodotá ended up first and Romano Prodi third.
In the data front, German producer prices rose below estimates while the EMU’s current account posted a €12.1 billion surplus during February.
At the moment, the cross is up 0.26% at 1.3084 with the next resistance at 1.3096 (high Apr.18) ahead of 1.3202 (high Apr.16) en route to 1.3229 (50% of Feb.-Apr. slide).
On the flip side, a break below 1.3001 (low Apr.17) would bring 1.2967 (MA21d) and then 1.2963 (low Apr.8).
In the data front, German producer prices rose below estimates while the EMU’s current account posted a €12.1 billion surplus during February.
At the moment, the cross is up 0.26% at 1.3084 with the next resistance at 1.3096 (high Apr.18) ahead of 1.3202 (high Apr.16) en route to 1.3229 (50% of Feb.-Apr. slide).
On the flip side, a break below 1.3001 (low Apr.17) would bring 1.2967 (MA21d) and then 1.2963 (low Apr.8).