Forex: EUR/USD around 1.2865, eyes on the EU Summit
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EUR/USD
FXstreet.com (Barcelona) - The bloc currency continues its correction lower from today's highs at the 1.2900 figure, ahead of the EU Leaders Summit, expected to kick in in the few minutes.
Very positive week for the euro, climbing from the mid 1.27s on Monday on renewed risk sentiment. Upbeat tone out of Chinese and euro zone PMI prints have also collaborated in the upside.
Moving towards Friday, the EU Summit is posed to dominate the headlines. In the euro zone, the most relevant release will be the German GDP figures for the third quarter, followed by the IFO Series.
EURUSD is up 0.27% at 1.2864 at the time of writing, with resistance levels lying at 1.2909 (MA55d) followed by 1.2950 (high Nov.2) and then 1.2983 (high Nov.1).
On the opposite direction, a drop below 1.2827 (MA21d) would allow 1.2730 (low Nov.19) and then 1.2691 (low Nov.16).
Very positive week for the euro, climbing from the mid 1.27s on Monday on renewed risk sentiment. Upbeat tone out of Chinese and euro zone PMI prints have also collaborated in the upside.
Moving towards Friday, the EU Summit is posed to dominate the headlines. In the euro zone, the most relevant release will be the German GDP figures for the third quarter, followed by the IFO Series.
EURUSD is up 0.27% at 1.2864 at the time of writing, with resistance levels lying at 1.2909 (MA55d) followed by 1.2950 (high Nov.2) and then 1.2983 (high Nov.1).
On the opposite direction, a drop below 1.2827 (MA21d) would allow 1.2730 (low Nov.19) and then 1.2691 (low Nov.16).
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