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1 May 2013
Forex: EUR/USD flat-lined around 1.3165/70
FXstreet.com (Barcelona) - The single currency is following a consolidations pattern around 1.3165/70 on Wednesday, giving away some ground after printing overnight highs in the vicinity of 1.3180 on tepid Chinese manufacturing PMI in April (50.6 vs. 51.0 exp.).
Empty calendar in the euro area due to the Labour Day holiday would shift investors’ attention to the Fed monetary policy gathering due in the European evening.
As of writing, the cross is up 0.01% at 1.3170 with the next resistance at 1.3202 (high Apr.16) ahead of 1.3229 (50% of Feb-Apr slide).
On the flip side, a breach of 1.3032 (MA21d) would bring 1.2988 (low Apr.25) and then 1.2958 (MA200d).
Empty calendar in the euro area due to the Labour Day holiday would shift investors’ attention to the Fed monetary policy gathering due in the European evening.
As of writing, the cross is up 0.01% at 1.3170 with the next resistance at 1.3202 (high Apr.16) ahead of 1.3229 (50% of Feb-Apr slide).
On the flip side, a breach of 1.3032 (MA21d) would bring 1.2988 (low Apr.25) and then 1.2958 (MA200d).