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30 Apr 2013
Forex: EUR/USD in highs ahead of German sales
FXstreet.com (Barcelona) - The shared currency is testing Monday’s highs in the area of 1.3115/20 on Tuesday, ahead of the German Retail Sales due later. Market consensus expects sales to come in flat on a monthly basis and to contract 1.2% YoY during March. In addition, prior estimates expect the Gfk Consumer Confidence Survey to remain unchanged at 5.9 for the month of May.
As of writing, the cross is up 0.09% at 1.3112 with the next resistance at 1.3130 (high Apr.19) ahead of 1.3202 (high Apr.16) and then 1.3229 (50% of Feb-Apr slide).
On the flip side, a breakdown of 1.2988 (low Apr.25) would open the door to 1.2954 (low Apr.24) and finally 1.2948 (MA200d).
As of writing, the cross is up 0.09% at 1.3112 with the next resistance at 1.3130 (high Apr.19) ahead of 1.3202 (high Apr.16) and then 1.3229 (50% of Feb-Apr slide).
On the flip side, a breakdown of 1.2988 (low Apr.25) would open the door to 1.2954 (low Apr.24) and finally 1.2948 (MA200d).