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13 Jun 2013
EUR/USD in highs around 1.3380/85
The EUR/USD keeps the upper end of the range on Thursday, gyrating around 1.3380/85 after German Wholesale Prices.
EUR/USD focused on US Retail Sales
Wholesale prices in Germany contracted 0.4% on a monthly basis and 0.1% over the last twelve months. Next on tap in the euro area will be the ECB Monthly Report ahead of the most relevant event, the US retail sales. “EUR/USD continues to be well supported by higher EUR rates and positioning unwinding. Today the FX market will be scrutinizing ECB comments to see if a new rate cut has moved closer”, commented Frank Oland, Senior Analyst at Danske Bank.
EUR/USD levels to watch
As of writing, the pair is gaining 0.27% at 1.3373 with the next hurdle at 1.3456 (high Feb.14) followed by 1.3520 (high Feb.13) and then 1.3577 (high Feb.7). On the downside, a break below 1.3266 (low Jun.12) would target 1.3177 (low Jun.10) en route to 1.3162 (MA10d).
EUR/USD focused on US Retail Sales
Wholesale prices in Germany contracted 0.4% on a monthly basis and 0.1% over the last twelve months. Next on tap in the euro area will be the ECB Monthly Report ahead of the most relevant event, the US retail sales. “EUR/USD continues to be well supported by higher EUR rates and positioning unwinding. Today the FX market will be scrutinizing ECB comments to see if a new rate cut has moved closer”, commented Frank Oland, Senior Analyst at Danske Bank.
EUR/USD levels to watch
As of writing, the pair is gaining 0.27% at 1.3373 with the next hurdle at 1.3456 (high Feb.14) followed by 1.3520 (high Feb.13) and then 1.3577 (high Feb.7). On the downside, a break below 1.3266 (low Jun.12) would target 1.3177 (low Jun.10) en route to 1.3162 (MA10d).