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Forex: EUR/USD apathetic after German data

By FXstreet.com,  January 08, 2013, 02:14:00 AM EDT

FXstreet.com (Barcelona) - The euro has posted no reaction after the German trade surplus narrowed more than expected during November to €14.6 billion from €14.9 billion in the previous month (revised down). Of note is the worrisome contraction of both exports and imports during the period, 3.4% and 3.7% respectively.

Continuing with the data, the current account surplus widened to €15.3 billion from €13.2 billion.

EUR/USD is now advancing a meager 0.01% at 1.3117 facing the next resistance at 1.3130 (broken up TL) followed by 1.3150 (MA21d) and then 1.3170 (MA10d).
On the flip side, a break below 1.2998 (low Jan.4) would aim to 1.2996 (low Dec.12) and 1.2988 (MA55d).




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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