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Forex pairs in this Article » EUR/USD (Barcelona) - After climbing to as high as 1.3398 ahead of the European session, profit taking at two pips below the strong psychological level of 1.3400 sent the EURUSD back down as equity trading started. The pair has eased to 1.3336 so far, as Spain bad loan ratio was reported to have risen from 11.23% to 11.38% in November.

The only indicator more directly relevant to the euro today showed more contraction in November: Italy industrial orders dropped -0.5% (MoM) to an annualized -6.7%, and industrial sales eased -0.2% (MoM) to an annualized -5.4%.

"Above 1.3405 we look for gains towards tough long term resistance at 1.3485/1.3560 this is the location of the 2012 high, a double Fibonacci retracement the 200 week moving average and the 55 MONTH moving average", wrote analyst Karen Jones, expecting failure there.
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