Forex: EUR/USD keeps the red after EMU data

The single currency keeps the 1.2955/60 area after the Employment Change in the euro area contracted 0.8% YoY during the fourth quarter and 0.3% QoQ, down from -0.6% and -0.1%, respectively. Further employment data showed that the jobless rate in Greece climbed to 26% inter-quarter in Q4, surpassing the previous 24.8%.

In the meantime, market participants would re-focus on the Spanish auction of 30-year bond, after yesterday’s higher yields in the Italian debt markets.

At the moment, the cross is down 0.04% at 1.2955 with the next support at 1.2924 (low Mar.13) ahead of 1.2881 (low Dec.10) and finally 1.2878 (low Dec.7)
On the upside, a breakout of 1.3075 (high Mar.12) would bring 1.3124 (MA21d) and then 1.3127 (MA100d).