Forex: EUR/USD dips to 1.3060/65 after German data

ListFree.org (Press Release) - Friday, March 1st, 2013

FXstreet.com (Barcelona) – The bloc currency eased to the 1.3060/65 region after German retail sales surpassed expectations on January, expanding 3.1% MoM and 2.4% on a yearly basis, leaving behind forecasts at +1.0% and -1.8%, respectively.

Ahead in the day a batch of final PMI prints for the month of February are due in the euro area, where the single currency is set to remain under pressure.

As of writing, the pair is up 0.06% at 1.3066 with the next resistance at 1.3163 (high Feb.28) ahead of 1.3170 (hourly cloud top) and then the psychological level at 1.3200
On the flip side, a breach of 1.3047 (Ichimoku cloud base) would aim for 1.3041 (low Feb.27) and finally 1.3018 (low Feb.26).

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