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12 Apr 2013
Forex: EUR/USD in session lows, around 1.3060/70
FXstreet.com (Barcelona) - Increasing risk aversion coupled with some profit taking are dragging the cross to fresh intraday lows in the boundaries of 1.3060 on Friday, after consumer prices in Germany, France and Italy during March came in softer than the previous print overall.
EMU’s Industrial Production is due next, with consensus expecting the sector to increase its negative trend and contract 2.5% on a yearly basis.
At the moment, the pair is losing 0.22% en 1.3070 and a breach of 1.3044 (low Apr.11) would expose 1.3006 (low Apr.9) and finally 1.2980 (MA10d).
On the upside, resistance levels line up at 1.3138 (high Apr.11) ahead of 1.3140 (MA55d) and then 1.3150 (MA100d).
EMU’s Industrial Production is due next, with consensus expecting the sector to increase its negative trend and contract 2.5% on a yearly basis.
At the moment, the pair is losing 0.22% en 1.3070 and a breach of 1.3044 (low Apr.11) would expose 1.3006 (low Apr.9) and finally 1.2980 (MA10d).
On the upside, resistance levels line up at 1.3138 (high Apr.11) ahead of 1.3140 (MA55d) and then 1.3150 (MA100d).