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4 Mar 2013
Forex: EUR/USD hovering over 1.3000
The single currency is testing the psychological support at 1.3000 on Monday, trading in a softer tone as risk aversion is creeping back to the markets.
Ahead in the day, Spain would release its Unemployment Change for the month of February, with consensus expecting to increase by 77.5K, ahead of a gauge of consumer sentiment by the Sentix index in the euro area.
At the moment, the cross is down 0.04% at 1.3007, with the next support at 1.2929 (low Dec.11) ahead of 1.2910 (76.4% of Nov.-Feb. rise) and then 1.2881 (low Dec.10).
On the flip side, a breakout of 1.3060 (61.8% Fibo) would aim for 1.3101 (high Mar.1) en route to 1.3163 (high Feb.28).
Ahead in the day, Spain would release its Unemployment Change for the month of February, with consensus expecting to increase by 77.5K, ahead of a gauge of consumer sentiment by the Sentix index in the euro area.
At the moment, the cross is down 0.04% at 1.3007, with the next support at 1.2929 (low Dec.11) ahead of 1.2910 (76.4% of Nov.-Feb. rise) and then 1.2881 (low Dec.10).
On the flip side, a breakout of 1.3060 (61.8% Fibo) would aim for 1.3101 (high Mar.1) en route to 1.3163 (high Feb.28).