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2 May 2013
Forex: EUR/USD consolidates below 1.3200
FXstreet.com (Barcelona) - The single currency is extending its correction from yesterday’s highs around 1.3240 to the current area of 1.3170/75, ahead of the final manufacturing PMI figures from de euro zone members.
The Chinese manufacturing PMI disappointed investors overnight, falling to 50.4 in April, a tad lower than the median at 50.6 and down from March’s 51.6.
As of writing, the cross is losing 0.04% at 1.3173 with the next support at 1.3162 (hourly low May 1) followed by 1.3120 (hourly high Apr.30) and finally 1.3052 (MA21d).
On the flip side, a surpass of 1.3319 (high Feb.25) would then target 1.3343 (61.8% of Feb-Apr slide) en route to 1.3456 (high Feb.14).
The Chinese manufacturing PMI disappointed investors overnight, falling to 50.4 in April, a tad lower than the median at 50.6 and down from March’s 51.6.
As of writing, the cross is losing 0.04% at 1.3173 with the next support at 1.3162 (hourly low May 1) followed by 1.3120 (hourly high Apr.30) and finally 1.3052 (MA21d).
On the flip side, a surpass of 1.3319 (high Feb.25) would then target 1.3343 (61.8% of Feb-Apr slide) en route to 1.3456 (high Feb.14).