Forex: EUR/USD consolidates above 1.2700
Forex pairs in this Article »
EUR/USD
FXstreet.com (Barcelona) - The single currency is consolidating gains above the key support of 1.2700 on Wednesday, trading in a better mood despite the backdrop of general strikes in Spain, Portugal and Greece.
The euro has pared all the losses after yesterday's drop on disappointing ZEW Survey figures in Germany and the euro bloc, that dragged the cross towards the area of 1.2660
Data-wise, inflation figures in France will precede Portugal Q3 GDP and EMU industrial production, and Italian 10yr bond tender would gauge investors' confidence. Across the pond US producer price index and retail sales are also due ahead of the FOMC minutes.
The cross is now advancing 0.09% at 1.2715 with the next resistance at 1.2739 (high Nov.12) ahead of 1.2791 (high Nov.9) then 1.2798 (MA10d) and 1.2800 (psychological level).
On the downside, a breach of 1.2662 (low Nov.13) would bring 1.2627 (low Sep.7) then 1.2607 (50% of 1.2042-1.3173) and 1.2600 (psychological level).
The euro has pared all the losses after yesterday's drop on disappointing ZEW Survey figures in Germany and the euro bloc, that dragged the cross towards the area of 1.2660
Data-wise, inflation figures in France will precede Portugal Q3 GDP and EMU industrial production, and Italian 10yr bond tender would gauge investors' confidence. Across the pond US producer price index and retail sales are also due ahead of the FOMC minutes.
The cross is now advancing 0.09% at 1.2715 with the next resistance at 1.2739 (high Nov.12) ahead of 1.2791 (high Nov.9) then 1.2798 (MA10d) and 1.2800 (psychological level).
On the downside, a breach of 1.2662 (low Nov.13) would bring 1.2627 (low Sep.7) then 1.2607 (50% of 1.2042-1.3173) and 1.2600 (psychological level).
Free Annual Reports
