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Forex: EUR/USD above 1.3100 on better German data

FXstreet.com (Barcelona) - The shared currency continues its recovery beyond the 1.3100 mark on Tuesday, propped up by better-than-expected German Factory Orders, expanding 2.2% on a monthly basis vs. the median at -0.5%. Over the last twelve months, orders contracted 0.4% vs. -2.9% forecasted.

EUR/USD is now advancing 0.23% at 1.3106 and a breakout of .13141 (high May 6) would then target 1.3160 (high May 3) en route to 1.3220 (high May 2).
On the flip side, support levels line up at 1.3068 (low May 7) followed by 1.3053 (low May 6) and finally 1.3033 (low May 3).

Germany Factory Orders n.s.a. (YoY): -0.4% in Mar; 2.2% (MoM)

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Germany: Annual Factory Orders fall 0.4% in March

On an annual basis German Factory Orders declined by 0.4% in March, down from the 0.2% fall in February, Deutsche Bundesbank reported on Tuesday. This result is more positive than the 2.9% decrease forecasted by economists.
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