Our best spreads and conditions
Learn more
Forex News
Back
May 13, 2013
Forex: EUR/USD recovers 1.2980
FXstreet.com (Barcelona) - The shared currency left session lows in the vicinity of 1.2960 overnight to attempt a rebound to the current 1.2980/85 region, although the sentiment remains prone to the risk-off trade.
Empty docket in the euro area will leave the euro to the mercy of the risk trends on Monday, after Chinese Retail Sales posted an annual expansion of 12.8% in line with estimates, and the industrial production grew 9.3% in April, below forecasts at 9.5%.
At the moment, the cross is up 0.10% and a break above 1.3051 (high May 10) would the target 1.3075 (MA21d) and finally 1.3100 (MA10d).
On the flip side, support levels line up at 1.2932 (61.8% of 1.2740-1.3243) followed by 1.916 (daily cloud base) and then 1.2850 (76.4% of Apr. range).
Empty docket in the euro area will leave the euro to the mercy of the risk trends on Monday, after Chinese Retail Sales posted an annual expansion of 12.8% in line with estimates, and the industrial production grew 9.3% in April, below forecasts at 9.5%.
At the moment, the cross is up 0.10% and a break above 1.3051 (high May 10) would the target 1.3075 (MA21d) and finally 1.3100 (MA10d).
On the flip side, support levels line up at 1.2932 (61.8% of 1.2740-1.3243) followed by 1.916 (daily cloud base) and then 1.2850 (76.4% of Apr. range).