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26 Mar 2013
Forex: EUR/USD around 1.2855/60 ahead of US data
FXstreet.com (Barcelona) - The shared currency is trading almost unchanged on Tuesday, ahead of the relevant data in the US economy from the Durable Goods Orders, Consumer Confidence and New Home Sales.
While markets remain biased towards the risk aversion, stronger-than-expected US data could see an extension of the USD momentum, accelerating the decline of EUR/USD.
At the moment, the cross is up 0.01% at 1.2851 with the immediate resistance at 1.2950 (MA10d) followed by 1.3050 (high Mar.25) and then 1.3107 (high Mar.15).
On the other hand, a breakdown of 1.2832 (low Mar.25) would aim for 1.2730 (low Nov.19) and finally 1.2700 (161.8% of Feb1 2011).
While markets remain biased towards the risk aversion, stronger-than-expected US data could see an extension of the USD momentum, accelerating the decline of EUR/USD.
At the moment, the cross is up 0.01% at 1.2851 with the immediate resistance at 1.2950 (MA10d) followed by 1.3050 (high Mar.25) and then 1.3107 (high Mar.15).
On the other hand, a breakdown of 1.2832 (low Mar.25) would aim for 1.2730 (low Nov.19) and finally 1.2700 (161.8% of Feb1 2011).