Forex: EUR/USD easing ground, around 1.3240

FXstreet.com (Barcelona) - The shared currency maintains the positive tone on Wednesday, following the improvement in the risk appetite on the US 'fiscal cliff', despite the poor data out of the manufacturing PMI prints of the euro zone members and the stronger than expected reading in the us ISM Manufacturing PMI.

David Song, Currency Analyst at DailyFX comments "Beyond the fundamentals, the technical point to a near term correction for the EURUSD as the relative strength approaches overbought territory, and we will be keeping a close eye on the oscillator as there appears to be a bearish divergence taking place".

At the moment, the cross is advancing 0.24% at 1.3237 with the next hurdle waiting at 1.3308 (high Dec.9) ahead of 1.3347 (Upper Bollinger) and then 1.3368 (high Apr.3).
On the flip side, a violation of 1.3209 (MA10d) would aim to 1.3190 (hourly low Jan.2) and then 1.3167 (low Dec.28).