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8 Apr 2013
Forex: EUR/USD stutters after morning climb
FXstreet.com (Barcelona) - Having climbed to capture the 1.3000 level, EUR/USD looks to have met some resistance during a day lacking any significant economic data releases.
The pair opened lower overnight at 1.2969 and has largely ranged throughout the morning session between there and 1.3018. Having moved above the key 1.3000 level, spot is currently trading at 1.3008, having met resistance at the daily highs and taking support above the round number. This mornings data has been uneventful, with a decline in EU Investor Confidence and a slight improvement in German Industrial Production wrapping up the European economic calendar. Hourly Stochastics are moving into overbought territory at 82, while RSI sits at 61 and moving in a ranging movement.
The pair opened lower overnight at 1.2969 and has largely ranged throughout the morning session between there and 1.3018. Having moved above the key 1.3000 level, spot is currently trading at 1.3008, having met resistance at the daily highs and taking support above the round number. This mornings data has been uneventful, with a decline in EU Investor Confidence and a slight improvement in German Industrial Production wrapping up the European economic calendar. Hourly Stochastics are moving into overbought territory at 82, while RSI sits at 61 and moving in a ranging movement.