Forex: EUR/USD higher as risk sharpens
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EUR/USD
FXstreet.com (Barcelona) - The bloc currency is markedly up against the greenback on Tuesday, as risk-on trade intensifies. The RBA has spurred sentiment over the global markets after it left the lending benchmark intact at 3.50%, in line with expectations, although the tone of the following statement was less dovish than market participants were estimating.
Light docket ahead of the day in the euro zone, as Producer Price index in the pan-European composite and Spanish Unemployment Change are only due. ECB's Asmussen will give a speech as well. Across the Atlantic, ISM Manufacturing PMI and Construction Spending are the main indicators to be released today.
EURUSD is up 0.21% at 1.2614 with the next resistance at 1.2632 (Upper Bollinger) ahead of 1.2638 (high Aug.31) and 1.2663 (50% of 1.3284-1.2042).
On the flip side, a breakdown of 1.2550 (low Sep.3) would bring 1.2531 (MA10d) and then 1.2500 (psychological level).
Light docket ahead of the day in the euro zone, as Producer Price index in the pan-European composite and Spanish Unemployment Change are only due. ECB's Asmussen will give a speech as well. Across the Atlantic, ISM Manufacturing PMI and Construction Spending are the main indicators to be released today.
EURUSD is up 0.21% at 1.2614 with the next resistance at 1.2632 (Upper Bollinger) ahead of 1.2638 (high Aug.31) and 1.2663 (50% of 1.3284-1.2042).
On the flip side, a breakdown of 1.2550 (low Sep.3) would bring 1.2531 (MA10d) and then 1.2500 (psychological level).
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