Forex: EUR/USD eases to 1.3070/75

FXstreet.com (Barcelona) - The shared currency has retreated to the area of 1.3070/75 on Tuesday, after mixed data from the French economy. In fact, the French trade deficit narrowed to €4.696 billion in March vs. €6.011 billion in the previous month, while the industrial production contracted 0.9%, worsening forecasts at -0.5%. The Budget deficit increased to €31.026 billion in March vs. February’s €27.1 billion.

Next on tap in the euro area will be the German Factory Orders, expected to contract 0.5% inter-month and 2.9% on a yearly basis.

EUR/USD is now advancing 0.02% at 1.3079 and a surpass of 1.3160 (high May 3) would open the door to 1.3220 (high May 2) and finally 1.3243 (high May 1).
On the flip side, support levels line up at 1.3033 (low May 3) ahead of 1.3015 (low Apr.29) and then 1.3010 (MA30d).