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Forex: EUR/USD glued to 1.3000

FXstreet.com (Barcelona) - The single currency is meandering around the psychological mark at 1.3000 as markets are heading towards the last part of the trading session. Sentiment surrounding the euro remains depressed after the worrisome data from today’s manufacturing PMI prints, fuelling the rumours regarding a rate cut by the ECB.

In light of Wednesday’s docket, the German IFO will be in the limelight early morning followed by Italian Retail Sales and a 10-year bond auction. Across the pond, the most relevant data will be the release of the US Durable Goods Orders.

EUR/USD is now losing 0.50% at 1.3000 with the next support at 1.2972 (MA21d) ahead of 1.2963 (low Apr.8) en route to 1.2936 (MA200d).
On the upside, a breakout of 1.3085 (high Apr.23) would expose 1.3130 (high Apr.19) and finally 1.3202 (high Apr.16).

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