Filed Under:
Forex pairs in this Article » EUR/USD
FXstreet.com (Barcelona) - The bloc currency is orbiting around 1.2970/75 on Monday, bouncing off session lows at 1.2962, as risk aversion is posed to dominate the trends on Monday.

Ecofin meeting due today will catch all investors' attention, as Spain and its bailout ongoings would be in centre stage, as well as Greece and Cyprus situation.
The euro remains under pressure today after the Banque de France expects the French economy to grow at 0.0% during the third quarter.

Data wise, German industrial production is due, with prior surveys estimate the headline to contract further to 1.5% in August and 0.8% on a monthly basis.

EURUSD is now losing 0.41% at 1.2971 facing the next support at 1.2952 (MA21d) followed by 1.2928 (MA10d) then 1.2878 (low Oct.4) and 1.2823 (MA200d).
On the flip side, a break above 1.3035 (hourly high Oct.8) would expose 1.3072 (high Oct.5) then 1.3120 (high Sep.18) and 1.3135 (Upper Bollinger).
comments powered by Disqus