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Forex: EUR/USD surges past resistance to 1.3138/45

FXstreet.com (Barcelona) - The EUR/USD has been one of the more active pairs Wednesday, despite the palpable respite in economic data and catalysts during the European session. However, this tranquility has been broken by the release of economic data in Germany, which has come on the heels of a 32-pip surge in recent moments. At the time of writing, the cross is negotiating an exchange of 1.3138/45, trading near session highs and notching an advance of +0.45%.

After the breaking of calculated resistance at 1.3115, the EUR/USD is slated to face short-term resistance at 1.3156, and finally 1.3179, according to the Mataf.net Technical Analyst Team. On the decline, the pair will encounter means of support at 1.3051, then 1.3028, and 1.2987.

In Germany, the marquee data release of the European session has concluded with the Industrial Production s.a. w.d.a. (YoY) coming in at -2.5% in March, vs. expectations of -3.8%. In addition, Industrial Production s.a. (MoM) yielded a climb of +1.2% in March, against estimates of just -0.1%.

Germany Mar Industrial Production s.a. (MoM) rises to 1.2% vs 0.6% in Feb. (YoY) -2.5% vs. -1.7%.

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Germany: Annual Industrial Production drops further in March

Year-over-year German Industrial Production declined by 2.5%, down from the 1.7% decrease registered the previous month, according to data released by Destatis. Still, the result is above market consensus of -3.8%.
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