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Forex: EUR/USD around 1.3050 ahead of German data

FXstreet.com (Barcelona) - The single currency is prolonging the overnight consolidation pattern around 1.3050 ahead of the German trade balance figures due later. Prior surveys expect the trade surplus to shrink to €16.5 billion in March vs. €17.1 billion. After yesterday’s sell-off from the boundaries of 1.3180 to the vicinity of 1.3010, the euro managed to pick up pace and recover the mid 1.30s.

As of writing, the cross is up 0.02% at 1.3046 with the next resistance at 1.3194 (high May 8) ahead of 1.3220 (high May 2) and finally 1.3243 (high May 1).

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