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21 Mar 2013
Forex: EUR/USD bounces with support at 1.2880
FXstreet.com (Barcelona) - The EUR/USD found support again at 1.2880 area after the drop as the US session opened. Now, the market is bouncing back and already trades above the 1.2900 psychological level. The economic cal-endar in the US is now empty.
US initial jobless claims rose from 334K (revised from 332K) to 336K in the week ending at March 17, still better than the expected 342K. Beating consensus of -2.0, Philadelphia Fed Manufacturing Survey rose from -12.5 to +2 in March. Analysts were expecting the preliminary release for March of Markit manufacturing PMI to come at 55.0 but actual data didn’t reach that figure, staying at 54.9 after rising from 54.3.
Mataf.net analysts point to resistance at 1.2925, 1.2975 and 1.3080, while support is at 1.2880, 1.2840 and 1.2800.
US initial jobless claims rose from 334K (revised from 332K) to 336K in the week ending at March 17, still better than the expected 342K. Beating consensus of -2.0, Philadelphia Fed Manufacturing Survey rose from -12.5 to +2 in March. Analysts were expecting the preliminary release for March of Markit manufacturing PMI to come at 55.0 but actual data didn’t reach that figure, staying at 54.9 after rising from 54.3.
Mataf.net analysts point to resistance at 1.2925, 1.2975 and 1.3080, while support is at 1.2880, 1.2840 and 1.2800.