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21 Feb 2013
Forex: EUR/USD retesting today’s lows
The soft tone is still weighting on the single currency, losing the 1.3200 handle and sliding back to the area around session lows below 1.3180
As we move towards the last trading day of the week, the single currency would remain in the limelight. Tomorrow’s calendar kicks in with German final Q4 GDP figures, followed by Italian inflation figures ahead of the German IFO series. A gauge of the Italian Consumer Confidence would follow, preceding the European Commission Growth Forecasts, with Italian Retail Sales closing the euro docket.
At the moment, the cross is losing 0.79% at 1.3178 and a drop beyond 1.3166 (76.4% of Jan-Feb rise) would open the door to 1.3039 (low Jan.10) ahead of 1.3018 (low Jan.7).
On the upside, resistance barriers line up at 1.3280 (Kijun line) followed by 1.3367 (MA10d) and 1.3440 (MA21d).
As we move towards the last trading day of the week, the single currency would remain in the limelight. Tomorrow’s calendar kicks in with German final Q4 GDP figures, followed by Italian inflation figures ahead of the German IFO series. A gauge of the Italian Consumer Confidence would follow, preceding the European Commission Growth Forecasts, with Italian Retail Sales closing the euro docket.
At the moment, the cross is losing 0.79% at 1.3178 and a drop beyond 1.3166 (76.4% of Jan-Feb rise) would open the door to 1.3039 (low Jan.10) ahead of 1.3018 (low Jan.7).
On the upside, resistance barriers line up at 1.3280 (Kijun line) followed by 1.3367 (MA10d) and 1.3440 (MA21d).