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11 Apr 2013
Forex: EUR/USD bouncing off 1.3080
FXstreet.com (Barcelona) - After correcting to the boundaries of 1.3080, the single currency has managed to gather traction and not only regain 1.3100 but also to test session highs around 1.3125/30.
The selling pressure picked up pace after the upbeat data from the weekly report on the US labour market, dragging the cross lower. The sentiment however remains biased towards the risk-on trade.
EUR/USD is now up 0.45% at 1.3129 facing the next hurdle at 1.3146 (MA55d) followed by 1.3148 (MA100d) and then 12.3163 (high Feb.28).
On the downside, a breach of 1.3044 (hourly lows Apr.11) would expose 1.3006 (low Apr.9) and finally 1.2963 (low Apr.8).
The selling pressure picked up pace after the upbeat data from the weekly report on the US labour market, dragging the cross lower. The sentiment however remains biased towards the risk-on trade.
EUR/USD is now up 0.45% at 1.3129 facing the next hurdle at 1.3146 (MA55d) followed by 1.3148 (MA100d) and then 12.3163 (high Feb.28).
On the downside, a breach of 1.3044 (hourly lows Apr.11) would expose 1.3006 (low Apr.9) and finally 1.2963 (low Apr.8).