Back
8 Feb 2013
Forex: EUR/USD working the 1.3400 handle
After plunging down to 1.3360 low to get ready for the US trade balance data, the EUR/USD allowed itself to bounce back to the 1.3400 psychological level, thus erasing its daily losses. The pair is currently quoting around the handle ahead of US Wholesale Inventories.
The US trade deficit was narrowed from $-48.61B to $-38.54B in December, beating market consensus of $-46.00B. US wholesale inventories are expected to rise +0.4% in December, less than November's +0.6%.
Mataf.net analysts point to resistance at 1.3430, 1.3475 and 1.3575. On the downside, supports might be found at 1.3370, 1.3315 and 1.3270.
The US trade deficit was narrowed from $-48.61B to $-38.54B in December, beating market consensus of $-46.00B. US wholesale inventories are expected to rise +0.4% in December, less than November's +0.6%.
Mataf.net analysts point to resistance at 1.3430, 1.3475 and 1.3575. On the downside, supports might be found at 1.3370, 1.3315 and 1.3270.