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3 May 2013
Forex: EUR/USD accelerates de downside, around 1.3045/50
FXstreet.com (Barcelona) - The selling pressure in the shared currency has intensified on Friday, dragging the cross to fresh weekly lows in the vicinity of 1.3025/30 as better-than-expected April Payrolls are renewing the idea that the Fed may tamper its ongoing QE programme sooner that estimated.
Recall that the us economy created 165K jobs during April, beating forecasts at 145K and March’s print at 138K (revised from 88K). The unemployment rate also bettered estimates, falling to 7.5% vs. 7.6% expected.
The cross is now retreating 0.13% at 1.3047 with support levels at 1.3037 (low May 2) and then 1.3015 (low Apr.29).
On the flip side, a surpass of 1.3220 (high May 2) would open the door to 1.3231 (daily cloud top) and then 1.3243 (high May 1).
Recall that the us economy created 165K jobs during April, beating forecasts at 145K and March’s print at 138K (revised from 88K). The unemployment rate also bettered estimates, falling to 7.5% vs. 7.6% expected.
The cross is now retreating 0.13% at 1.3047 with support levels at 1.3037 (low May 2) and then 1.3015 (low Apr.29).
On the flip side, a surpass of 1.3220 (high May 2) would open the door to 1.3231 (daily cloud top) and then 1.3243 (high May 1).