Forex: EUR/USD keeps the red after French data
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EUR/USD
FXstreet.com (Barcelona) - The sentiment surrounding the euro stayed indifferent after the Consumer Confidence in France remained at 86 for the month of January, matching estimates. In addition, retail sales in Spain have contracted 10.7% on a yearly basis during December, extending the negative trend of the headline.
In the opinion of Lee Hardman, Currency Analyst at BTMU, "The euro is continuing to gain support from the return of investor confidence in euro-zone assets".
As of writing, EURUSD is retreating 0.09% at 1.3443 with the next support at 1.3425 (low Jan.28) ahead of 1.3366 (MA10d) and finally 1.3349 (low Jan.25).
On the flip side, a break above 1.3480 (high Jan.25) would expose 1.3487 (high 2012 Feb.24) and then 1.3491 (50% of 2011-12 decline).
In the opinion of Lee Hardman, Currency Analyst at BTMU, "The euro is continuing to gain support from the return of investor confidence in euro-zone assets".
As of writing, EURUSD is retreating 0.09% at 1.3443 with the next support at 1.3425 (low Jan.28) ahead of 1.3366 (MA10d) and finally 1.3349 (low Jan.25).
On the flip side, a break above 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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