Forex: EUR/USD eases to 1.3440 after German Gfk
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EUR/USD
FXstreet.com (Barcelona) - The single currency is posting fresh session lows around the 1.3440 region on Tuesday, despite de improvement in the consumer confidence in Germany. In fact, the Gfk Survey rose to 5.8 for the month of February, a hair above January's 5.7
In addition, import prices contracted 0.5% on a monthly basis, and rose 0.3% YoY during December, below forecasts at +0.1% and +0.9%, respectively.
At the moment, the cross is down 0.09% at 1.3443 with the next support at 1.3425 (low Jan.28) ahead of 1.3352 (MA10d) and finally 1.3349 (low Jan.25).
On the flip side, a surpass of 1.3480 (high Jan.25) would expose 1.3487 (high 2012 Feb.24) and then 1.3491 (50% of 2011-12 decline).
In addition, import prices contracted 0.5% on a monthly basis, and rose 0.3% YoY during December, below forecasts at +0.1% and +0.9%, respectively.
At the moment, the cross is down 0.09% at 1.3443 with the next support at 1.3425 (low Jan.28) ahead of 1.3352 (MA10d) and finally 1.3349 (low Jan.25).
On the flip side, a surpass of 1.3480 (high Jan.25) would expose 1.3487 (high 2012 Feb.24) and then 1.3491 (50% of 2011-12 decline).
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