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Forex pairs in this Article » EUR/USD (Barcelona) - The bull run of the single currency is now running out of steam, dragging the EUR/USD to the current area around 1.3040 after hitting fresh intraday peaks beyond 1.3060.

EUR/USD focus on US docket

Once again, the US calendar would be the main catalyst for a continuation or reversion of today’s price action, as the US manufacturing sector will be in the limelight later with the results of the PMI and the ISM. In the opinion of Sean Callow, Strategist at Westpac, “Any bounce on steady hand from ECB Draghi on Thu would be a sell (say 1.3100/50), targeting 1.2850 multi-day/week. Relative growth should chip away at EUR while German election campaign limits wiggle room on emerging concerns over Greece and Cyprus funding”.

EUR/USD tech levels

As of writing, the pair is advancing 0.21% at 1.3041 with the next resistance at 1.3103 (high Jun.28) ahead of 1.3115 (MA30d) and finally 1.3151 (high Jun.25). On the downside, a break below 1.3004 (low Jul.1) would open the door to 1.2991 (low Jun.28) and then 1.2985 (low Jun.26).
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