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Forex: EUR/USD threatens 1.3100

By FXstreet.com,  January 03, 2013, 05:26:00 AM EDT

FXstreet.com (Barcelona) - The shared currency is accelerating its decline towards the key support at 1.3100 on Thursday, as risk aversion sharpens ahead of the employment data in the US economy. Prior surveys expect the ADP Employment Change to rise by 133K during December vs. November's 118K, and the Initial Jobless Claims also to rise to 355K from 350K.

At the moment, the cross is losing 0.54% at 1.3114 with 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 break above 1.3194 (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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