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2 Apr 2013
Forex: EUR/USD testing lows around 1.2815/20
FXstreet.com (Barcelona) - The shared currency keeps the negative path as we head towards the last part of the NA session on Tuesday, testing intraday lows in the area of 1.2815/20.
Moving forward to Wednesday docket, the risk trends will be put to the test early in the Asian session with the Chinese HSBC Services PMI. Preliminary annual reading of the EMU CPI will follow, ahead of the ADP Employment Change in March and the ISM Non-Manufacturing.
At the moment, the cross is losing 0.22% at 1.2820 with the next support at 1.2751 (low Mar.27) ahead of 1.2730 (low Nov.19) and finally 1.2680 (61.8% of 1.2042-1.3711).
On the flip side, a break above 1.2886 (MA200d) would expose 1.2890 (high Mar.26) and finally 1.2943 (MA21d).
Moving forward to Wednesday docket, the risk trends will be put to the test early in the Asian session with the Chinese HSBC Services PMI. Preliminary annual reading of the EMU CPI will follow, ahead of the ADP Employment Change in March and the ISM Non-Manufacturing.
At the moment, the cross is losing 0.22% at 1.2820 with the next support at 1.2751 (low Mar.27) ahead of 1.2730 (low Nov.19) and finally 1.2680 (61.8% of 1.2042-1.3711).
On the flip side, a break above 1.2886 (MA200d) would expose 1.2890 (high Mar.26) and finally 1.2943 (MA21d).