Forex: EUR/USD extends decline to 1.2241
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EUR/USD
FXstreet.com (Barcelona) - According to ECB's Coene, the Franco-Belgian bank Dexia needs to be recapitalized urgently. The comment triggered a new down move in the EURUSD chart, to 1.2243 low for now.
On the upside is news coming from Greece stating the January-July budget deficit was of ¬13.2B, lower than the targeted ¬14.8B. The primary deficit, ex-interest expenses, is of ¬3.1B.
"The recent slide below 1.2330 sets the focus at 1.2220 support area and current intraday outlook is bearish below 1.2330 resistance area", wrote Deltastock.com analyst Stoyan Mihaylov, favoring a reversal above 1.2220 to trigger a rise towards 1.2509.
On the upside is news coming from Greece stating the January-July budget deficit was of ¬13.2B, lower than the targeted ¬14.8B. The primary deficit, ex-interest expenses, is of ¬3.1B.
"The recent slide below 1.2330 sets the focus at 1.2220 support area and current intraday outlook is bearish below 1.2330 resistance area", wrote Deltastock.com analyst Stoyan Mihaylov, favoring a reversal above 1.2220 to trigger a rise towards 1.2509.
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