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29 Mar 2013
Forex: EUR/USD muted after French data
FXstreet.com (Barcelona) - The shared currency posted little change after French Consumer Spending contracted 0.2% on a monthly basis during February, missing estimates at 0.4%. Further data showed that Producer Prices in the second economy of the bloc rose 0.4% MoM, exceeding expectations at 0.3%.
Markets remain calm so far, with focus on the Bersani-Napolitano meeting due later in Italy in order to shed some light into the governability crisis prevailing in the peninsula.
As of writing, the cross is up 0.01% at 1.2817 with the next resistance at 1.2867 (high Mar.27) ahead of 1.2883 (MA200d) and finally 1.2890 (high Mar.26).
On the downside, a break below 1.2751 (low Mar.27) would expose 1.2730 (low Nov.19) and then 1.2685 (weekly cloud base).
Markets remain calm so far, with focus on the Bersani-Napolitano meeting due later in Italy in order to shed some light into the governability crisis prevailing in the peninsula.
As of writing, the cross is up 0.01% at 1.2817 with the next resistance at 1.2867 (high Mar.27) ahead of 1.2883 (MA200d) and finally 1.2890 (high Mar.26).
On the downside, a break below 1.2751 (low Mar.27) would expose 1.2730 (low Nov.19) and then 1.2685 (weekly cloud base).