OctaFX | OctaFX Forex Broker
Open trading account

EUR/USD depressed below 1.2400

FXStreet (Edinburgh) - The single currency extends its sideline pattern below 1.2400 the figure on Friday, with EUR/USD navigating near the 1.2380/85 band.

EUR/USD ignored German data

Spot largely bypassed the positive releases in Germany, where the trade surplus widened to €18.5 billion in September and both exports and imports significantly reverted previous contractions. Further data showed the Current Account surplus expanded to €22.3 billion from €10.5 billion during the same period. The demand for the EUR remains subdued following yesterday’s ECB gathering, with the pair meandering levels last traded in August 2012 ahead of the critical US Payrolls due later (231K).

EUR/USD key levels

The pair is now up 0.10% at 1.2388 with the next resistance at 1.2448 (hourly high Nov.6) ahead of 1.2533 (high Nov.6) and then 1.2547 (10-d MA). On the flip side, a breakdown of 1.2364 (low Nov.6) would expose 1.2342 (low Aug.21 2012) and finally 1.2295 (low Aug.20 2012).

Germany: Annual Industrial Production falls 0.1% in September

Year-over-year German Industrial Production declined by 0.1% in September, following a 1.9% decline registered the previous month, according to data released by Eurostat.
Read more Previous

France Individual Investment (Current Year) declined to -3% in 4Q from previous 1%

Read more Next
Start livechat