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1 May 2013
Forex: EUR/USD eyes 1.3250 after ADP
FXstreet.com (Barcelona) - The shared currency is printing fresh multi-week highs in the vicinity of 1.3250 on Wednesday, after the US private sector disappointed investors in April adding 119K jobs vs. 150k expected and 131K in the previous month.
Next on tap will be the ISM manufacturing, expected to ease to 50.9 in April from March’s 51.3.
The cross is now advancing 0.51% at 1.3235 with the next hurdle at 1.3319 (high Feb.25) followed by 1.3343 (61.8% of Feb-Apr slide).
On the flip side, a breakdown of 1.3120 (hourly high Apr.30) would open the door to 1.3052 (MA21d) and finally 1.2988 (low Apr.25).
Next on tap will be the ISM manufacturing, expected to ease to 50.9 in April from March’s 51.3.
The cross is now advancing 0.51% at 1.3235 with the next hurdle at 1.3319 (high Feb.25) followed by 1.3343 (61.8% of Feb-Apr slide).
On the flip side, a breakdown of 1.3120 (hourly high Apr.30) would open the door to 1.3052 (MA21d) and finally 1.2988 (low Apr.25).