OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex: EUR/USD dips to 1.3075/80 on Spanish GDP

FXstreet.com (Barcelona) - The bloc currency is accelerating its decline on Tuesday, printing fresh session lows in the area of 1.3070/75 after the Spanish economic activity contracted 2.0% during the first quarter, matching estimates and down from the previous contraction of 1.8%. On a QoQ basis, the GDP contracted 0.5% vs. -0.7% previous.

Next on tap in the euro zone docket will be the German jobless rate, expected to stay unchanged at 6.9% in April.

At the moment, the cross is down 0.13% at 1.3083 with the immediate support at 1.3029 (MA21d) followed by 1.2988 (low Apr.25) and finally 1.2958 (MA200d).
On the flip side, a break above 1.3130 (high Apr.19) would bring 1.3158 (MA100d) and then 1.3202 (high Apr.16).

Forex: USD/CHF erases losses after German retail sales

The USD/CHF eased from 0.9375 area down to 0.9354 low ahead of German retail sales. However, disappointing data made investors retrace the movement back to where it was.
Read more Previous

Forex Flash: EUR/USD ideally to fail at 1.3113 – Commerzbank

Having rallied higher towards the 1.3113 2013 resistance line, Commerzbank analysts would like to see failure there, but acknowledge that key resistance is the 1.3225 50% retracement, and while capped here their negative bias remains and attention is on the 1.2959 200 day ma. “We should see failure shortly and a slide to 1.2839, the 78.6% retracement of the move up in April. This is the last defense for the 1.2740 recent low”, wrote analyst Karen Jones, pointing to key support at 1.2679/61(61.8% Fibonacci retracement of the July-to-January rise and the November 2012 low).
Read more Next
Start livechat