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4 Feb 2013
Forex: EUR/USD around 1.3630, ahead of Spanish data
The shared currency is extending its overnight decline, stabilizing around 1.3630 ahead of the Spanish Unemployment Change, expected to rose by 150.0K during January vs. -59.1K previous.
“On the weekend, the Netherlands nationalized bank and insurance group SNS Reaal at an initial cost of EUR3.7bn, in a reminder that even the ‘core’ Eurozone nations still face real challenges in their financial sectors”, writes Sean Callow, analyst at the Australian bank Westpac.
As of writing, the cross is losing 0.17% at 1.3627 with the next resistance at 1.3815 (high Nov.14) and then 1.3833 (61.8% of 2011-2012 decline).
On the flip side, a breach of 1.3574 (hourly low Feb.1) would expose 1.3542 (low Jan.31
“On the weekend, the Netherlands nationalized bank and insurance group SNS Reaal at an initial cost of EUR3.7bn, in a reminder that even the ‘core’ Eurozone nations still face real challenges in their financial sectors”, writes Sean Callow, analyst at the Australian bank Westpac.
As of writing, the cross is losing 0.17% at 1.3627 with the next resistance at 1.3815 (high Nov.14) and then 1.3833 (61.8% of 2011-2012 decline).
On the flip side, a breach of 1.3574 (hourly low Feb.1) would expose 1.3542 (low Jan.31