EURUSD holds above the 1.13 handle in front of EMU data

The recharged selling bias around the USD is pushing the EURUSD pair back above the 1.13 hande in early European trading. Chinese economic data was firmer than expected and brought relief to markets, facilitating concerns over the ongoing slowdown in the economy.

The near term bias is more bullish for time being as price stays above both key hourly MA. But, there is near term resistance around 1.1318 before the swing area around 1.1330-35 becomes actual again.

EMU final CPI figures for the month of March will be the significant event later today.

Rose Alice

About: Rose Alice

Rose Alice has a long experience as a currency analyst with a deep knowledge of the relationship between macroeconomics and currencies fluctuation.