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21 Mar 2013
Forex: EUR/USD tests overnight lows, around 1.2930/35
FXstreet.com (Barcelona) - The single currency is grinding lower on Thursday, extending the overnight decline to the current area of 1.2930/35 ahead of the batch of PMI data in the euro zone.
The selling interest in the euro picked up pace yesterday on a neutral tone from Chief Bernanke’s press conference and after the Fed left intact its monetary policy, broadly in line with market expectations.
As of writing, the pair is losing 0.06% at 1.2936 with the immediate support at 1.2900 (intraday support) followed by 1.2844 (low Mar.19) and then 1.2827 (low Nov.22).
On the flip side, a break above 1.2973 (high Mar.20) would expose 1.2980 (MA200h) and finally 1.3046 (MA21d).
The selling interest in the euro picked up pace yesterday on a neutral tone from Chief Bernanke’s press conference and after the Fed left intact its monetary policy, broadly in line with market expectations.
As of writing, the pair is losing 0.06% at 1.2936 with the immediate support at 1.2900 (intraday support) followed by 1.2844 (low Mar.19) and then 1.2827 (low Nov.22).
On the flip side, a break above 1.2973 (high Mar.20) would expose 1.2980 (MA200h) and finally 1.3046 (MA21d).