Back
13 Mar 2013
Forex: EUR/USD keeps the red after Italian, German auction
The single currency is testing session lows in the area of 1.3010/15 after Italy sold €6.993 billion in today’s auction vs. target of €7.25 billion, with the 3-year bond yields ticking higher to 2.48% vs. 2.30% previous. In addition, German auction of 2-year Notes yielded 0.06% vs. 0.21%.
No further data is expected in the euro area, while US retail sales would be in the limelight in the European afternoon.
At the moment, the cross is losing 0.10% at 1.3014 and a drop below 1.2980 (low Mar.11) would accelerate the decline to 1.2956 (low Mar.8) and then 1.2929 (low Dec.11).
On the upside, resistance levels align at 1.3075 (high Mar.12) ahead of 1.3128 (MA100d) and then 1.3135 (high Mar.8).
No further data is expected in the euro area, while US retail sales would be in the limelight in the European afternoon.
At the moment, the cross is losing 0.10% at 1.3014 and a drop below 1.2980 (low Mar.11) would accelerate the decline to 1.2956 (low Mar.8) and then 1.2929 (low Dec.11).
On the upside, resistance levels align at 1.3075 (high Mar.12) ahead of 1.3128 (MA100d) and then 1.3135 (high Mar.8).