Forex: EUR/USD flirts with session highs
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EUR/USD
FXstreet.com (Barcelona) - The single currency is marching unabated on Wednesday, actually trading in the upper end of today's range, in the vicinity of 1.3125
Revitalized sentiment has allayed even more the risk aversion, after agency Moody's confirmed Spain as an 'investment grade' country, keeping its Baa3 rating note but with negative outlook. The news has added to the buoyancy brought in by rumours that Spain would call for financial aid in the very near future.
Ahead of the EU Summit, the euro is now advancing 0.52% at 1.3123 with the next resistance at 1.3150 (down trend line from 2011 high) ahead of 1.3173 (high Sep.17) then 1.3181 (high May 3) and 1.3242 (high May 2).
On the flip side, a breakdown of 1.2978 (MA10d) would expose 1.2950 (MA21d) then 1.2944 (low Oct.16) and 1.2892 (low Oct.15).
Revitalized sentiment has allayed even more the risk aversion, after agency Moody's confirmed Spain as an 'investment grade' country, keeping its Baa3 rating note but with negative outlook. The news has added to the buoyancy brought in by rumours that Spain would call for financial aid in the very near future.
Ahead of the EU Summit, the euro is now advancing 0.52% at 1.3123 with the next resistance at 1.3150 (down trend line from 2011 high) ahead of 1.3173 (high Sep.17) then 1.3181 (high May 3) and 1.3242 (high May 2).
On the flip side, a breakdown of 1.2978 (MA10d) would expose 1.2950 (MA21d) then 1.2944 (low Oct.16) and 1.2892 (low Oct.15).
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