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11 Mar 2013
Forex: EUR/USD around 1.3000/10 ahead German data
The single currency had a decent performance overnight, although trading in a narrow range between 1.2985 and 1.3010 ahead of the German trade balance figures due later. Market forecasts expect the trade surplus to narrow to #15.8 billion during January.
As of writing, the cross is up 0.12% at 1.3012 facing the next resistance at 1.3055 (MA200h) en route to 1.3135 (high Mar.8) and finally 1.3163 (high Feb.28).
On the flip side a breakdown of 1.2956 (low Mar.8) would open the door to 1.2929 (low Dec.11) and then 1.2881 (low Dec.10).
As of writing, the cross is up 0.12% at 1.3012 facing the next resistance at 1.3055 (MA200h) en route to 1.3135 (high Mar.8) and finally 1.3163 (high Feb.28).
On the flip side a breakdown of 1.2956 (low Mar.8) would open the door to 1.2929 (low Dec.11) and then 1.2881 (low Dec.10).