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Forex: EUR/USD keeps the red around 1.3030/40

The shared currency is trading in the red territory on Tuesday, retracing earlier gains after the risk appetite lifted the euro to levels shy of 1.3080, breaking the consolidation pattern that prevailed around 1.3000

Moving forward to Wednesday’s docket in the euro zone, France will release its Nonfarm Payrolls figures and CPI results, ahead of Spanish inflation figures and then the EMU’s Industrial Production. Across the pond, the most relevant data would be the US Retail Sales, expected to expand 0.5% YoY in February.

At the moment, the cross is down 0.12% at 1.3029 with the next support at 1.2980 (low Mar.11) ahead of 1.2956 (Mar.8) and then 1.2929 (low Dec.11).
On the upside, a breakout of 1.3126 (MA100d) would open the door to 1.3135 (high Mar.8) and then 1.3163 (high Feb.28).

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