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Forex: EUR/USD recovers ground after German, EMU data

By FXstreet.com,  January 03, 2013, 04:09:00 AM EDT

FXstreet.com (Barcelona) - The single currency has gained some pips after the German unemployment rate has remained at 6.9% while the unemployment change rose 3K, less than the 10K expected.
Continuing with the data, the M3 Money Supply has expanded 3.8% YoY in November, and the Private Loans have contracted 0.8% on a yearly basis during the same period.

EUR/USD is down 0.14% at 1.3168 as of writing, facing the next support at 1.3099 (MA30d) followed by 1.3066 (low Dec.14) and then 1.3040 (low Dec.13).
On the upside, a breakout of 1.3195 (MA10d) would bring 1.3300 (high Jan.2) and then 1.3308 (high Dec.19).




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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