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Forex pairs in this Article » EUR/USD (Barcelona) - The shared currency continues to trade in the 1.3355/60 region on Monday, after poor Italian data out of the industrial sector showed that the Industrial Output contracted 1.0% on a monthly basis and 7.6% YoY during November, extending October's decline.

In the opinion of the research team at NAB, "the prolongation of US debt talks into March and a modest softening of data suggest markets will struggle to move beyond these boundaries and for now 1.30-1.35 should contain. We are revising down our EURUSD forecasts for Q1 to 1.31 from 1.34 and to 1.34 from 1.37 for Q2.

The cross is now losing 0.05% at 1.3354, with the immediate support at 1.3336 (hourly low Jan.14) followed by 1.3249 (low Jan.11) and then 1.3192 (MA21d).
On the upside, a break above 1.3487 (2012 high Feb.24) would open the door to 1.3491 (50% of 2011-2012 decline) and finally 1.3550 (high Dec.2 2011).
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