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17 Apr 2013
Forex: EUR/USD jumps to 1.3199 high but EMU construction contracts
FXstreet.com (Barcelona) - The EUR/USD upside ahead of the publication of EMU construction output was capped at 1.3199 high. Earlier, the pair fell on the European opening to test support at the 20-day EMA, at 1.3160, printing a low at 1.3153. As of writing, the market trades at 1.3190.
EMU construction output contracted by -0.8% on the month of February, following a wider fall in February of -2.1% (revised from -1.4%). The annualized figure came in at 0.8%, much better than the prior month data at -9.0% (revised from -7.3%). In Switzerland, Expectations by the ZEW survey surprised with a strong rise from 2.3 to 20 in April, beating the consensus of 5.
Mataf.net analysts point to resistance at 1.3205, 1.3245 and 1.3310, while the downside is at 1.3165, 1.3110 and 1.3025.
EMU construction output contracted by -0.8% on the month of February, following a wider fall in February of -2.1% (revised from -1.4%). The annualized figure came in at 0.8%, much better than the prior month data at -9.0% (revised from -7.3%). In Switzerland, Expectations by the ZEW survey surprised with a strong rise from 2.3 to 20 in April, beating the consensus of 5.
Mataf.net analysts point to resistance at 1.3205, 1.3245 and 1.3310, while the downside is at 1.3165, 1.3110 and 1.3025.