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25 Apr 2013
Forex: EUR/USD gathering pace around 1.3020
FXstreet.com (Barcelona) - The shared currency is extending its corrective upside from session lows around 1.2990 to the current area of 1.3015/20 as the NA session draws to a close.
Moving forward Friday’s docket, the BoJ will hold its monetary policy meeting, followed by German Import Prices, French Consumer Confidence and a measure of the M3 Money Supply in the euro area. The most relevant release will be the flash figures of the annualized US GDP for the first quarter, expected at 3.0%, ahead of the Reuters/Michigan index (73.2 exp.)
At the moment the cross is up 0.04% at 1.3020 with the next resistance at 1.3130 (high Apr.19) ahead of 1.3202 (high Apr.16) and finally 1.3229 (50% of Feb-Apr slide).
On the downside, a breach of 1.2997 (MA21d) would expose 1.2954 (low Apr.24) and then 1.2944 (MA200d).
Moving forward Friday’s docket, the BoJ will hold its monetary policy meeting, followed by German Import Prices, French Consumer Confidence and a measure of the M3 Money Supply in the euro area. The most relevant release will be the flash figures of the annualized US GDP for the first quarter, expected at 3.0%, ahead of the Reuters/Michigan index (73.2 exp.)
At the moment the cross is up 0.04% at 1.3020 with the next resistance at 1.3130 (high Apr.19) ahead of 1.3202 (high Apr.16) and finally 1.3229 (50% of Feb-Apr slide).
On the downside, a breach of 1.2997 (MA21d) would expose 1.2954 (low Apr.24) and then 1.2944 (MA200d).