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16 May 2013
Forex: EUR/USD climbed to 1.2920 after US data
FXstreet.com (Barcelona) - The single currency is now posting gains after the softer than expected consumer prices in the US economy during March, posting an annual increment of 1.1% vs. 1.3% expected. Core prices also came in below forecasts at 1.7% vs. 1.8%.
Further data showed mixed results from housing starts and building permits while initial claims unexpectedly rose to 360K in the week ended on May 14 vs. 328K in the previous reading.
At the moment the cross is up 0.03% at 1.2902 with the next resistance at 1.2943 (high May 15) and then 1.3002 (MA30d).
On the flip side, a break below 1.2843 (low May 15) would open the door to the psychological mark at 1.2800 and finally 1.2740 (2013 low Apr.14).
Further data showed mixed results from housing starts and building permits while initial claims unexpectedly rose to 360K in the week ended on May 14 vs. 328K in the previous reading.
At the moment the cross is up 0.03% at 1.2902 with the next resistance at 1.2943 (high May 15) and then 1.3002 (MA30d).
On the flip side, a break below 1.2843 (low May 15) would open the door to the psychological mark at 1.2800 and finally 1.2740 (2013 low Apr.14).