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Forex: EUR/USD unchanged after Italian data

FXstreet.com (Barcelona) - The shared currency posted no reaction after the annual contraction of 3.6% in the Italian Industrial Output during January, showing the there are still no signs of any recovery. Further euro data came from the Bank of Spain, informing that bad loans ratio rose to 10.78% during January, above December’s 10.44%.

Ahead of the ZEW Survey in Germany, the cross is now down 0.14% at 1.2939 and a breach of 1.2883 (low Mar.18) would aim for 1.2878 (low Dec.7) en route to 1.2872 (MA200d).
On the flip side, resistance levels are located at 1.2995 (high Mar.18) followed by 1.3009 (MA10d) and then 1.3074 (MA21d).

Italy Industrial Output s.a. (MoM) improves to 0.8% in Jan from -0.2% in Dec

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Forex: EUR/JPY retraces daily gains up to 124.13 high

After testing the opening price and going as low as 123.16 as the European session opened, the EUR/JPY is trading at 123.50 after the release of Italian Industrial Output. The cross has retraced its Asian gains up to 124.13 high.
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