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4 Mar 2013
Forex: EUR/USD glued to 1.3000
The shared currency remains trapped around the key level of 1.3000 as we enter the last part of the NA session on Monday, after irrelevant dockets in both the US and Euroland have collaborated in the dullness prevailing in the markets.
Tuesday’s calendar in the euro bloc would offer the final services PMI prints, ahead of the EMU’s retail sales. Across the pond, the IBD/TIPP Economic Optimism is due, preceding the ISM Non-Manufacturing PMI.
At the moment, the cross is losing 0.04% at 1.3007 with the next support at 1.2967 (low Mar.1) ahead of 1.2929 (low Dec.11) and finally 1.2910 (76.4% of Nov.-Feb. rise).
On the flip side, a breakout of 1.3065 (hourly cloud top) would aim for 1.3101 (high Mar.1) and then 1.3140 (MA10d).
Tuesday’s calendar in the euro bloc would offer the final services PMI prints, ahead of the EMU’s retail sales. Across the pond, the IBD/TIPP Economic Optimism is due, preceding the ISM Non-Manufacturing PMI.
At the moment, the cross is losing 0.04% at 1.3007 with the next support at 1.2967 (low Mar.1) ahead of 1.2929 (low Dec.11) and finally 1.2910 (76.4% of Nov.-Feb. rise).
On the flip side, a breakout of 1.3065 (hourly cloud top) would aim for 1.3101 (high Mar.1) and then 1.3140 (MA10d).