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15 May 2013
Forex: EUR/USD challenging 1.2900 on German GDP
FXstreet.com (Barcelona) - The shared currency eased to the boundaries of the key support at 1.2900 on Wednesday, after the flash GDP figures in Germany missed expectations. The German economic activity expanded 0.1% inter-quarter vs. 0.3% expected. On a yearly basis, the GDP contracted 1.4% vs. the median at 0.2%.
Next on tap will be the French consumer prices followed by the flash Italian and EMU GDP figures.
At the moment, the cross is down 0.10% at 1.2907 with the next support at 1.2850 (76.4% of Apr. range).
On the upside, a break above 1.3051 (high May 10) would open the door to 1.3065 (MA21d) and finally 1.3148 (MA100d).
Next on tap will be the French consumer prices followed by the flash Italian and EMU GDP figures.
At the moment, the cross is down 0.10% at 1.2907 with the next support at 1.2850 (76.4% of Apr. range).
On the upside, a break above 1.3051 (high May 10) would open the door to 1.3065 (MA21d) and finally 1.3148 (MA100d).