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15 May 2013
Forex: EUR/USD climbs to 1.2880/85
FXstreet.com (Barcelona) - Softer US producer prices and poor Empire State manufacturing index encouraged the shared currency to attempt a rebound to the area of 1.2880/85, although the bounce run out of steam afterwards, dragging the cross back to the current 1.2870/75 region.
Next on the US docket will be the Industrial Production figures and the NAHB Housing Market index.
The cross is now retreating 0.38% at 1.2871 and a violation of 1.2747 (low Apr.4) would expose 1.2679 (61.8% of 1.2042-1.3711) and finally 1.2662 (low Nov.13).
On the flip side, the next hurdle is located at 1.2943 (high May 15) ahead of 1.3030 (high May 14) and then 1.3048 (MA21d).