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15 Mar 2013
Forex: EUR/USD eyes 1.3100 after US CPI
FXstreet.com (Barcelona) - Further USD weakness after the US inflation figures and the NY Empire State manufacturing index is lifting once again the single currency to fresh intraday highs in the vicinity of the key resistance at 1.3100
US CPI showed an annualized expansion of 2.0% and 0.7% on a monthly basis, vs. expectations at +1.9% and +0.5%, respectively. The Empire State index came in at 9.24, missing estimates at 10.00 and down from February’s 10.04
At the moment the cross is up 0.70% at 1.3095 facing the next hurdle at 1.3111 (MA21d) ahead of 1.3129 (MA100d) and finally 1.3135 (high Mar.8).
On the downside, a breach of 1.3000 (hourly low Mar.15) would aim for 1.2912 (low Mar.14) and finally 1.2881 (low Dec.10).
US CPI showed an annualized expansion of 2.0% and 0.7% on a monthly basis, vs. expectations at +1.9% and +0.5%, respectively. The Empire State index came in at 9.24, missing estimates at 10.00 and down from February’s 10.04
At the moment the cross is up 0.70% at 1.3095 facing the next hurdle at 1.3111 (MA21d) ahead of 1.3129 (MA100d) and finally 1.3135 (high Mar.8).
On the downside, a breach of 1.3000 (hourly low Mar.15) would aim for 1.2912 (low Mar.14) and finally 1.2881 (low Dec.10).