Back
8 Mar 2013
Forex: EUR/USD retreats from highs, around 1.3110
After printing fresh weekly highs above 1.3130, the single currency is now giving away part of those benefits back to the region of 1.3005/10, ahead of the labor market data in the US economy. Prior surveys expect the Non-farm Payrolls to climb to 160K in February, up from January’s 157K, and the unemployment rate to stay put at 7.9%.
At the moment, the cross is up 0.01% at 1.3108 facing the next hurdle at 1.3163 (high Feb.28) followed by the psychological level at 1.3200 and then 1.3269 (Ichimoku Cloud base).
On the flip side, a breakdown of 1.3058 (MA200h) would aim for 1.3054 (MA200h) and then 1.2970 (low Mar.7).
At the moment, the cross is up 0.01% at 1.3108 facing the next hurdle at 1.3163 (high Feb.28) followed by the psychological level at 1.3200 and then 1.3269 (Ichimoku Cloud base).
On the flip side, a breakdown of 1.3058 (MA200h) would aim for 1.3054 (MA200h) and then 1.2970 (low Mar.7).