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8 Apr 2013
Forex: EUR/USD dips to lows around 1.2975/80
FXstreet.com (Barcelona) - The single currency is trading on the back foot on Monday, as events in Portugal over the weekend eroded part of last week’s post-ECB/Payrolls rally. It is worth noting that the Portuguese constitutional court voted against parts of a new austerity package promoted by the government.
Ahead in the day, the Sentix Investor Confidence index is due (-13.1 exp.) followed by German Industrial Production.
At the moment, the cross is losing 0.08% at 1.2981 and a breach of 1.2893 (MA200d) would then target 1.2849 (MA10d) en route to 1.2747 (low Apr.4).
On the flip side, resistance levels line up at 1.3050 (high Mar.25) then 1.3107 (high Mar.15) and finally 1.3110 (38.2% of Feb.-Apr. slide).
Ahead in the day, the Sentix Investor Confidence index is due (-13.1 exp.) followed by German Industrial Production.
At the moment, the cross is losing 0.08% at 1.2981 and a breach of 1.2893 (MA200d) would then target 1.2849 (MA10d) en route to 1.2747 (low Apr.4).
On the flip side, resistance levels line up at 1.3050 (high Mar.25) then 1.3107 (high Mar.15) and finally 1.3110 (38.2% of Feb.-Apr. slide).