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Forex: EUR/USD flat after German data

By FXstreet.com,  January 08, 2013, 06:27:00 AM EDT

FXstreet.com (Barcelona) - The single currency keeps trading in the region of 1.3110/20 after the German Factory Orders during November contracted 1.8% on a monthly basis and 1.0% over the last twelve months. Recall that expectations were calling for -1.4% and -0.4% respectively.

Next relevant event for the cross would come from the US docket, after the release of the Consumer Credit Change for November ($12.75 billion exp.).

The euro is now advancing 0.01% against the greenback at 1.3118, facing the next hurdle at 1.3158 (MA21d) followed by 1.3162 (MA10d) and 1.3190 (high Jan.3).
On the other hand, 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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