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2 Apr 2013
Forex: EUR/USD dips to lows around.12830/35
FXstreet.com (Barcelona) - Renewed weakness in the euro after the softer PMI data is dragging the cross to fresh session lows in the vicinity of 1.2830/35 on Tuesday, ahead of the EMU unemployment rate due later. Prior surveys expect the jobless rate to tick higher to 12.0% during February.
It is worth noting that Germany manufacturing PMI dropped to 49.0 in March, down from 50.3 albeit better than estimates at 48.9
EUR/USD is now down 0.09% at 1.2837 and a breakdown of 1.2751 (low Mar.27) would open the door to 1.2730 (low Nov.19) en route to 1.2680 (61.8% of 1.2042-1.3711).
On the flip side, resistance levels line up at 1.2886 (MA200d) ahead of 1.2890 (high Mar.260 and finally 1.2943 (MA21d).
It is worth noting that Germany manufacturing PMI dropped to 49.0 in March, down from 50.3 albeit better than estimates at 48.9
EUR/USD is now down 0.09% at 1.2837 and a breakdown of 1.2751 (low Mar.27) would open the door to 1.2730 (low Nov.19) en route to 1.2680 (61.8% of 1.2042-1.3711).
On the flip side, resistance levels line up at 1.2886 (MA200d) ahead of 1.2890 (high Mar.260 and finally 1.2943 (MA21d).