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5 Mar 2013
Forex: EUR/USD higher despite Spanish PMI
The shared currency is eying 1.3055/60 on Tuesday despite the services PMI print in Spain fell to 44.7, below estimates at 46.0 and January’s print at 47.0
Ahead in the day, Italy, France, Germany and the EMU would publish their final services PMI results, ahead of the EMU’s Retail Sales during January.
At the moment, EUR/USD is advancing 0.20% at 1.3053 with the next hurdle at 1.3065 (hourly cloud top) followed by 1.3101 (high Mar.1) and then 1.3140 (MA10d).
On the flip side, a breakdown of 1.2967 (low Mar.1) would aim for 1.2929 (low Dec.11) and finally 1.2910 (76.4% of Nov.-Feb. rise).
Ahead in the day, Italy, France, Germany and the EMU would publish their final services PMI results, ahead of the EMU’s Retail Sales during January.
At the moment, EUR/USD is advancing 0.20% at 1.3053 with the next hurdle at 1.3065 (hourly cloud top) followed by 1.3101 (high Mar.1) and then 1.3140 (MA10d).
On the flip side, a breakdown of 1.2967 (low Mar.1) would aim for 1.2929 (low Dec.11) and finally 1.2910 (76.4% of Nov.-Feb. rise).