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Forex: EUR/USD retreats to 1.3660/65

Posted
2/1/2013 2:18:00 PM
By: FXstreet.com
Referenced Stocks:

The shared currency is easing further ground on Friday after hitting fresh tops above 1.3700, currently trading around 1.3660/65
The euro found extra support after the US economy added 157K jobs during January, below estimates at 160K; while the unemployment rate up ticked to 7.9% vs. 7.8% previous.

Very light docket in the bloc on Monday is unlike to spark any selling interest in the euro, as the Spanish Unemployment Change is due (+150.0K exp.), followed by the Sentix index -3.6 exp.) and the Producer Prices (+2.2% YoY exp.).

At the moment, the cross is up 0.63% at 1.3663 and a surpass of 1.3815 (high Nov.14) would aim for 1.3833 (61.8% of 2011-2012 decline).
On the flip side, support levels lie at 1.3574 (hourly low Feb.1) and then 1.3542 (low Jan.31).