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4 Apr 2013
Forex: EUR/USD bounces off lows, around 1.2835/40
FXstreet.com (Barcelona) - The single currency is attempting a rebound from session lows in the vicinity of 1.2820 after services PMI in Spain surprised investors rising to 45.3 in March from 44.7 previous and 44.2 expected.
Next on tap will be the rest of the services PMI results for the euro zone members ahead of the Spanish auction of 3, 5 and 10-year bonds.
At the moment, the cross is down 0.11% at 1.2834 with the immediate support at 1.2772 (low Apr.1) ahead of 1.2751 (low Mar.27) and finally 1.2730 (low Nov.19).
On the upside, a break above 1.2878 (high Apr.2) would aim for 1.2890 (MA200d) and finally 1.2920 (MA21d).
Next on tap will be the rest of the services PMI results for the euro zone members ahead of the Spanish auction of 3, 5 and 10-year bonds.
At the moment, the cross is down 0.11% at 1.2834 with the immediate support at 1.2772 (low Apr.1) ahead of 1.2751 (low Mar.27) and finally 1.2730 (low Nov.19).
On the upside, a break above 1.2878 (high Apr.2) would aim for 1.2890 (MA200d) and finally 1.2920 (MA21d).