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Forex: EUR/USD intensifies the decline

By FXstreet.com,  January 03, 2013, 01:54:00 AM EDT

FXstreet.com (Barcelona) - The single currency is hovering over the mid 1.3100s on Thursday, extending its decline from yesterday highs at the 1.3300 figure as the post-'fiscal cliff' sell off continues to unwound.
Ahead in the day, the most relevant release in the euro zone would be the German jobless rate, with market consensus expecting the rate to remain intact at 6.9% during December.

Across the pond, the weekly report on the labor market and the ADP Employment Change would grasp investors' attention, ahead of the FOMC minutes.

The cross is now losing 0.29% at 1.3148 facing the immediate support at 1.3140 (MA21d) and then the psychological level at 1.3100
On the upside, a breakout of 1.3300 (high Jan.2) would expose 1.3308 (high Dec.19) and 1.3347 (Upper Bollinger).




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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