Forex: EUR/USD consolidating above 1.3000

Apr 7 • Uncategorized • 1983 Views • Comments Off on Forex: EUR/USD consolidating above 1.3000

The shared currency is closing the week with strong gains, currently hovering over 1.3015/20 after hitting weekly highs in the boundaries of 1.3040.
Recall that the euro found increasing buying interest on Thursday soon after hitting 2013 lows around 1.2740, and then initiating a sharp ascent reinforced today by the horrible data from March US NFP.

Monday’s calendar will bring the Sentix Investor Confidence index in the EMU for the month of April, ahead of the German Industrial Production. Across the pond, the most relevant event will be a speech by Chief Bernanke.

At the moment, the cross is up 0.60% at 1.3013 with the next resistance at 1.3050 (high Mar.25) then 1.3107 (high Mar.15) and finally 1.3110 (38.2% of Feb.-Apr. slide)
On the flip side, a breach of 1.2893 (MA200d) would then target 1.2849 (MA10d) en route to 1.2747 (low Apr.4). – (Barcelona)

Forex: EUR/USD consolidating above 1.3000

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