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Forex: EUR/USD in session lows after German data

By FXstreet.com,  January 15, 2013, 02:11:00 AM EDT

FXstreet.com (Barcelona) - The bloc currency dip to the vicinity of 1.3340 on Tuesday after inflation figures showed that the CPI stayed in line with market consensus at +0.9% Mom and 2.0% on a yearly basis during December.

Next on tap will be the German annualized GDP growth. The economic activity in the first economy is expected to expand 0.8% during 2012, markedly lower than the previous +3.0%.

At the moment EUR/USD is down 0.30% at 1.3342 with the next support at 1.3336 (low Jan.14) ahead of 1.3308 (high Dec.19) and 1.3249 (low Jan.11).
On the flip side, a breach of 1.3487 (2012 high Feb.24) would expose 1.3491 (50% of 2011-2012 drop) en route to 1.3550 (high Dec.2 2011).




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

Referenced Stocks:



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