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Forex: EUR/USD trapped around 1.3000

FXstreet.com (Barcelona) - The single currency is trading in a consolidation pattern around the key mark at 1.3000 on Wednesday, ahead of the German IFO series due later. Market consensus expects all of the components to ease a tad in April, following the recent results in the euro zone fundamentals.

Ahead in the day, Italian retail sales will also be released followed by a 10-year auction. In the US, Durable Goods Orders will be in the limelight (-2.8% exp.).

At the moment, the cross is up 0.06% en 1.3006, facing the next resistance at 1.3085 (high Apr.23) ahead of 1.3130 (high Apr.19) and finally 1.3202 (high Apr.16).
On the downside, a break below 1.2972 (MA21d) would aim for 1.2963 (low Apr.8) and then 1.2936 (MA200d).

Forex Flash: RBA June cut looking good, risk will occur in May - NAB

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