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Forex: EUR/USD back to 1.3100 after Spanish data

FXstreet.com (Barcelona) - The single currency is gathering pace and is trading back around the 1.3100 level on Wednesday, despite the 6.5% annual contraction of the Spanish industrial output, missing the median and extending the negative momentum of the industrial sector in the Mediterranean country. Previous data showed that the industrial output in France advanced 0.7% in February, leaving behind January’s contraction of 5.0%.

Next on tap will be the Italian industrial output, expected to contract further to 4.3% in February from -3.6% previous.

At the moment, the cross is up 0.11% at 1.3099 with the next resistance at 1.3107 (high Mar.15) ahead of 1.3111 (38.2% of Feb-Apr slide) and 1.3135 (high Mar.80.
On the other hand, a break below 1.3006 (low Apr.9) would aim for 1.2963 (low Apr.8) and finally 1.2901 (MA200d).

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After falling below the 99.00 level briefly during the overnight session (98.91 daily low), the USD/JPY is back on track and trading positively. Ahead of the FOMC minutes later today, the cross is operating in positive territory at 99.23/27, having advanced +0.23% above its opening thus far.
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