Thursday, 17 January 2013

EUR/USD dips on global growth estimates, ECB comment bolsters

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More at http://daily20pips.blogspot.com/2013/01/gemma-merna-unleashes-her-appealing.html
The euro dipped against the U.S. dollar on Wednesday after the World Bank trimmed its 2013 growth forecast, which prompted investors to sell the unit for profits and take up safe-harbor dollar positions.
 
Meanwhile, bullish comments on the broader eurozone economy for an ECB governor bolstered the single currency.
 
In U.S. trading on Wednesday, EUR/USD was trading down 0.14% at 1.3287, up from a session low of 1.3258, and off from a high of 1.3325.
 
The pair was likely to find support at 1.3037, the low from Jan. 9, and resistance at 1.3404, Monday's high.

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