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14 Feb 2013
Forex: EUR/USD around 1.3430/35 after French GDP
The single currency is grinding lower after the French economy contracted 0.3% QoQ during the fourth quarter, missing estimates at -0.2% and down from +0.1% in the previous quarter.
The next result in the euro zone docket would be the preliminary figures of the German GDP during the fourth quarter. Prior surveys expect the economic activity to fell 0.5% QoQ and expand 0.2% on a yearly basis.
At the moment, the cross is losing 0.13% at 1.3434 with the next support at 1.3428 (low Feb.13) followed by 1.3364 (low Feb.12) and finally 1.3325 (low Feb.11).
On the flip side, a breakout of 1.3437 (MA21d) would expose 1.3489 (MA10d) en route to 1.3520 (high Feb.13).
The next result in the euro zone docket would be the preliminary figures of the German GDP during the fourth quarter. Prior surveys expect the economic activity to fell 0.5% QoQ and expand 0.2% on a yearly basis.
At the moment, the cross is losing 0.13% at 1.3434 with the next support at 1.3428 (low Feb.13) followed by 1.3364 (low Feb.12) and finally 1.3325 (low Feb.11).
On the flip side, a breakout of 1.3437 (MA21d) would expose 1.3489 (MA10d) en route to 1.3520 (high Feb.13).