Forex: EUR/USD clings to 1.3000

The bloc currency is trading just off the 2-month low (1.2995), after the EMU’s trade surplus has narrowed to €3.7 billion in February from €5.3 billion in the previous month. The data add to the better-than-expected Italian deficit figures, coming in at €-1.11 billion in the same period, up from € -4.35 billion in January.
In addition to the sombre scenario, the Spanish situation is not getting anything better as the 10-yr benchmark is above the 6.0% threshold and the IBEX 35 is posting fresh 3-year lows around the 7,200 level.

At the moment, the cross is down 0.41% at 1.3014, with the next support at 1.2991 (Lower Bollinger) ahead of 1.2974 (low Feb.16) then 1.2955 (61.8% of 1.2624-1.3487) and 1.2931 (low Jan.25).
A break above 1.3074 (hourly high Apr.16) would bring 1.3143 (MA10d) then 1.3200 (MA21d) and 1.3202 (MA55d).

EUR/USD Apr 16 at 11:08 GMT

1.3023/25 (-0.32%)

H1.3076 L 1.2995

S3 S2 S1 R1 R2 R3
1.2960 1.2993 1.3025 1.3032 1.3065 1.3098
Trend Index [?] OB/OS Index [?]
Data updated on Apr 16 a 11:00 GMT (15-minute timeframe)
Slightly Bullish Extremely Oversold


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