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8 Feb 2013
Forex: EUR/USD eases below 1.3400 on German data
The euro has slipped below the 1.3400 handle on Wednesday, after the German trade surplus has widened to €16.8 billion in December from €14.6 billion in the previous month. Of note was the marginal expansion in exports, up 0.3% vs. +2.2% previous. Imports contracted 1.3%, less than the -3.8% in November but missing estimates at +1.4%.
At the moment, the cross is losing 0.07% at 1.3387 with the next support at 1.3371 (low Feb.7) ahead of 1.3349 (low Jan.25) and then 1.3265 (low Jan.23).
On the upside, a breakout of 1.3462 (low Feb.5) would aim for 1.3515 (MA10d) and finally 1.3577 (high Feb.7).
At the moment, the cross is losing 0.07% at 1.3387 with the next support at 1.3371 (low Feb.7) ahead of 1.3349 (low Jan.25) and then 1.3265 (low Jan.23).
On the upside, a breakout of 1.3462 (low Feb.5) would aim for 1.3515 (MA10d) and finally 1.3577 (high Feb.7).