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5 Mar 2013
Forex: EUR/USD keeps lows around 1.3010/15
The shared currency is revisiting session lows on Tuesday around the area of 1.3010/15, as risk appetite continues to retreat on stronger US ISM Non Manufacturing PMI.
The euro pushed to the boundaries of 1.3080 earlier this morning, after better-than-expected services PMI in the euro zone members during February combined with a decent reading from the EMU’s retail sales. The upside run out of steam later, trimming those gains to the current area of 1.3010/15
The cross is now retreating 0.07% at 1.3016 and a breakdown of 1.2982 (low Mar.4) would expose 1.2966 (2013 low Mar.1) and finally.
On the flip side, resistance levels line up at 1.3101 (high Mar.1) ahead of 1.3108 (MA10d) and then 1.3114 (Ichimoku Cloud Base).
The euro pushed to the boundaries of 1.3080 earlier this morning, after better-than-expected services PMI in the euro zone members during February combined with a decent reading from the EMU’s retail sales. The upside run out of steam later, trimming those gains to the current area of 1.3010/15
The cross is now retreating 0.07% at 1.3016 and a breakdown of 1.2982 (low Mar.4) would expose 1.2966 (2013 low Mar.1) and finally.
On the flip side, resistance levels line up at 1.3101 (high Mar.1) ahead of 1.3108 (MA10d) and then 1.3114 (Ichimoku Cloud Base).