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7 Feb 2013
Forex: EUR/USD back to 1.3535/40 after French data
The single currency is back to the proximities of 1.3540 – home of intraday highs, so far – after the French trade deficit widened to €5.3 billion during December from €4.3 billion previous. The poor data continued after the annualized 6.9% contraction of Spanish industrial output in de the same period.
Next on tap in the euro area would be the German industrial production, preceding the ECB meeting.
At the moment, the pair is up 0.10% at 1.3536 with the next hurdle at 1.3620 (intraday support Feb.4) and then 1.3660 (high Feb.4).
On the flip side, a breakdown of 1.3494 (low Feb.6) would aim for 1.3459 (low Feb5) and then 1.3415 (low Jan.29).
Next on tap in the euro area would be the German industrial production, preceding the ECB meeting.
At the moment, the pair is up 0.10% at 1.3536 with the next hurdle at 1.3620 (intraday support Feb.4) and then 1.3660 (high Feb.4).
On the flip side, a breakdown of 1.3494 (low Feb.6) would aim for 1.3459 (low Feb5) and then 1.3415 (low Jan.29).