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15 May 2013
Forex: EUR/USD climbs to 1.2880/85
FXstreet.com (Barcelona) - Softer US producer prices and poor Empire State manufacturing index encouraged the shared currency to attempt a rebound to the area of 1.2880/85, although the bounce run out of steam afterwards, dragging the cross back to the current 1.2870/75 region.
Next on the US docket will be the Industrial Production figures and the NAHB Housing Market index.
The cross is now retreating 0.38% at 1.2871 and a violation of 1.2747 (low Apr.4) would expose 1.2679 (61.8% of 1.2042-1.3711) and finally 1.2662 (low Nov.13).
On the flip side, the next hurdle is located at 1.2943 (high May 15) ahead of 1.3030 (high May 14) and then 1.3048 (MA21d).
Next on the US docket will be the Industrial Production figures and the NAHB Housing Market index.
The cross is now retreating 0.38% at 1.2871 and a violation of 1.2747 (low Apr.4) would expose 1.2679 (61.8% of 1.2042-1.3711) and finally 1.2662 (low Nov.13).
On the flip side, the next hurdle is located at 1.2943 (high May 15) ahead of 1.3030 (high May 14) and then 1.3048 (MA21d).