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12 Apr 2013
Forex: EUR/USD around 1.3055/55, US data eyed
FXstreet.com (Barcelona) - The single currency continues to trade on the back foot on Friday, ahead of the relevant releases in the US economy due later: Retail Sales are expected to came in flat for the month of March while the preliminary Reuters/Michigan Consumer Sentiment index would ease to 78.5 in April from 78.6 in the previous reading.
The risk-off tone prevails in the global markets on Friday due to renewed jitters on Cyprus and a profit taking bias.
The cross is now retreating 0.35% at 1.3053 facing the next support at 1.3044 (low Apr.11) followed by 1.3006 (low Apr.9) and then 1.2980 (MA10d).
On the upside, a surpass of 1.3138 (high Apr.11) would open the door to 1.3140 (MA55d) and finally 1.3150 (MA100d).
The risk-off tone prevails in the global markets on Friday due to renewed jitters on Cyprus and a profit taking bias.
The cross is now retreating 0.35% at 1.3053 facing the next support at 1.3044 (low Apr.11) followed by 1.3006 (low Apr.9) and then 1.2980 (MA10d).
On the upside, a surpass of 1.3138 (high Apr.11) would open the door to 1.3140 (MA55d) and finally 1.3150 (MA100d).