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25 Apr 2013
Forex: EUR/USD keeps highs above 1.3060
FXstreet.com (Barcelona) - The prevailing risk-on tone in the markets is propping up the upside in the cross, accelerated by the lack of relevant drivers in the euro zone as well. Ahead in the day, the weekly report on the US labour market is due, although the release would have no significant impact in the markets.
“The ongoing narrowing of the euro-zone sovereign credit risk premium is helping to support the euro especially against other European currencies which have benefitted as safe havens during the crisis period such as the Norwegian krone and Swedish krona”, commented Lee Hardman, Currency Analyst at BTMU.
EUR/USD is now up 0.39% at 1.3067 with the immediate resistance at 1.3085 (high Apr.23) ahead of 1.3130 (high Apr.19) and finally 1.3202 (high Apr.16).
On the downside, a break below 1.2997 (MA21d) would expose 1.2954 (low Apr.24) and then 1.2944 (MA200d).
“The ongoing narrowing of the euro-zone sovereign credit risk premium is helping to support the euro especially against other European currencies which have benefitted as safe havens during the crisis period such as the Norwegian krone and Swedish krona”, commented Lee Hardman, Currency Analyst at BTMU.
EUR/USD is now up 0.39% at 1.3067 with the immediate resistance at 1.3085 (high Apr.23) ahead of 1.3130 (high Apr.19) and finally 1.3202 (high Apr.16).
On the downside, a break below 1.2997 (MA21d) would expose 1.2954 (low Apr.24) and then 1.2944 (MA200d).