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Forex: EUR/USD hovering over 1.3045/50

The single currency keeps the positive ground in the area of 1.3045/50 on Tuesday, as the US session is drawing to a close and the risk appetite continues to prevail.

Moving forward to Wednesday’s calendar, the most relevant and sole data in the euro area would be the EMU GDP figures for the fourth quarter, ahead of the ADP report on US employment and Factory Orders, ahead of the Fed’s Beige Book.

At the moment, the cross is up 0.12% at 1.3043 and the next resistance levels align at 1.3101 (high Mar.1) ahead of 1.3108 (MA10d) and then 1.3114 (Ichimoku Cloud Base).
On the flip side, support levels line up at 1.3016 (low Mar.5) ahead of 1.2982 (low Mar.4) and then 1.2966 (2013 low Mar.1).

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