Forex: EUR/USD hovering over 1.3170

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FXstreet.com (Barcelona) - The bloc currency is orbiting around 1.3170 as we enter the last part of the NA session on Wednesday. After hitting 1.3300 overnight on the developments in the US economy, the single currency lost impetus, punished during the European morning by the disappointing PMI prints out of the euro zone members and later by the stronger US ISM manufacturing.

Moving forward to Thursday, the most relevant release in the euro docket would be the German unemployment rate. Later on during the US session, investors would expect the weekly report on the labor market and the ADP Employment Change, all preceding the FOMC minutes.

At the moment, the cross is down 0.26% at 1.3170 with the next support at 1.3156 (low Dec.18) followed by 1.3144 (low Dec.17) and then 1.3140 (MA21d).
On the upside, a break above 1.3260 (hourly res Jan.2) would open the door to 1.3300 (high Jan.2) and finally 1.3308 (high Dec.9).



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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