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Forex: EUR/USD unchanged after EMU trade data

FXstreet.com (Barcelona) - The bloc currency keeps the area of 1.2955/60 after the euro area posted a trade deficit of €3.9 billion during January, far below December’s €10.5 billion surplus. Further data showed that Italian trade deficit was €1.62 billion during the same period, down from a surplus of €2.10 billion in the previous month.

All in all, traders ignored the trade data as focus remains on Cyprus and the upcoming parliamentary vote.

The cross is now losing 0.85% at 1.2964 and a dip beyond 1.2881 (low Dec.10) would expose 1.2878 (low Dec.7) and finally 1.2848 (Lower Bollinger).
On the flip side, resistance levels are located at 1.3013 (MA10d) en route to 1.3090 (MA21d) and then 1.3129 (MA100d).

EU Jan Trade Balance s.a. down to €9B vs €10.5B (Dec)

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EMU: Trade surplus shifts to deficit in January

Eurozone trade surplus n.s.a. of €10.8 billion registered in December 2012 shifted to a deficit of €3.9 billion in January 2013, according to data released today by Eurostat. Analysts expected the surplus to move to a deficit of €3.5 billion.
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