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7 May 2013
Forex: EUR/USD above 1.3100 on better German data
FXstreet.com (Barcelona) - The shared currency continues its recovery beyond the 1.3100 mark on Tuesday, propped up by better-than-expected German Factory Orders, expanding 2.2% on a monthly basis vs. the median at -0.5%. Over the last twelve months, orders contracted 0.4% vs. -2.9% forecasted.
EUR/USD is now advancing 0.23% at 1.3106 and a breakout of .13141 (high May 6) would then target 1.3160 (high May 3) en route to 1.3220 (high May 2).
On the flip side, support levels line up at 1.3068 (low May 7) followed by 1.3053 (low May 6) and finally 1.3033 (low May 3).
EUR/USD is now advancing 0.23% at 1.3106 and a breakout of .13141 (high May 6) would then target 1.3160 (high May 3) en route to 1.3220 (high May 2).
On the flip side, support levels line up at 1.3068 (low May 7) followed by 1.3053 (low May 6) and finally 1.3033 (low May 3).