Back
2 May 2013
Forex: EUR/USD picking up pace after PMI
FXstreet.com (Barcelona) - The shared currency has regained the area of 1.3165/70 on Thursday, after the better final figures from the manufacturing PMI prints in Germany and the EMU for the month of Arpil, printing 48.1 and 46.7, respectively vs. estimates at 47.9 and 46.5. The results however, are lower than March’s readings.
Next on tap will be a French 10-year bond auction, preceding the ECB interest rate decision and the subsequent press conference by President Mario Draghi.
At the moment, the cross is down 0.08% at 1.3167 with the next support at 1.3120 (hourly high Apr.30) ahead of 1.3065 (MA21d) and finally 1.2988 (low Apr.25).
On the flip side, a break above 1.3243 (high May 1) would aim for 1.3319 (high Feb.25) en route to 1.3343 (61.8% of Feb-Apr slide).
Next on tap will be a French 10-year bond auction, preceding the ECB interest rate decision and the subsequent press conference by President Mario Draghi.
At the moment, the cross is down 0.08% at 1.3167 with the next support at 1.3120 (hourly high Apr.30) ahead of 1.3065 (MA21d) and finally 1.2988 (low Apr.25).
On the flip side, a break above 1.3243 (high May 1) would aim for 1.3319 (high Feb.25) en route to 1.3343 (61.8% of Feb-Apr slide).