Forex: EUR/USD eases from 1.2627 high
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EUR/USD
FXstreet.com (Barcelona) - The release of the Spanish unemployment change coincides with a 10-pip drop from its highs at 1.2627. There are 38.2K more unemployed in Spain, retracing the -27.8K less of the previous month.
Although the EU AAA-rating by Moody's got its outlook negative, the ECB is hinting more than ever about bond buying action, expected only for short term debt. The widely expected central bank meeting is on Thursday.
The EURUSD is currently easing from its highs of 1.2627, trading around 1.2615 ahead of the European opening. "While we cannot rule out further upside probes very near term, the market does face tough overhead resistance", wrote Commerzbank analyst Karen Jones, pointing to strong resistance at 1.2657 downtrend and 1.2748 (June high).
Although the EU AAA-rating by Moody's got its outlook negative, the ECB is hinting more than ever about bond buying action, expected only for short term debt. The widely expected central bank meeting is on Thursday.
The EURUSD is currently easing from its highs of 1.2627, trading around 1.2615 ahead of the European opening. "While we cannot rule out further upside probes very near term, the market does face tough overhead resistance", wrote Commerzbank analyst Karen Jones, pointing to strong resistance at 1.2657 downtrend and 1.2748 (June high).
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