Forex: EUR/USD dips to 1.3075/80 on Spanish GDP

FXstreet.com (Barcelona) - The bloc currency is accelerating its decline on Tuesday, printing fresh session lows in the area of 1.3070/75 after the Spanish economic activity contracted 2.0% during the first quarter, matching estimates and down from the previous contraction of 1.8%. On a QoQ basis, the GDP contracted 0.5% vs. -0.7% previous.

Next on tap in the euro zone docket will be the German jobless rate, expected to stay unchanged at 6.9% in April.

At the moment, the cross is down 0.13% at 1.3083 with the immediate support at 1.3029 (MA21d) followed by 1.2988 (low Apr.25) and finally 1.2958 (MA200d).
On the flip side, a break above 1.3130 (high Apr.19) would bring 1.3158 (MA100d) and then 1.3202 (high Apr.16).

Apr 30, 2013

Forex: USD/CHF erases losses after German retail sales

The USD/CHF eased from 0.9375 area down to 0.9354 low ahead of German retail sales. However, disappointing data made investors retrace the movement back to where it was.

Forex Flash: EUR/USD ideally to fail at 1.3113 – Commerzbank

Having rallied higher towards the 1.3113 2013 resistance line, Commerzbank analysts would like to see failure there, but acknowledge that key resistance is the 1.3225 50% retracement, and while capped here their negative bias remains and attention is on the 1.2959 200 day ma. “We should see failure shortly and a slide to 1.2839, the 78.6% retracement of the move up in April. This is the last defense for the 1.2740 recent low”, wrote analyst Karen Jones, pointing to key support at 1.2679/61(61.8% Fibonacci retracement of the July-to-January rise and the November 2012 low).