Forex: EUR/USD recovers ground after Spanish data
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EUR/USD
FXstreet.com (Barcelona) - The shared currency is attempting a recovery to the 1.2930/35 region on Wednesday, after retails sales in Span have contracted less that forecasted. In fact, sales fell 9.7% in a year through October, while previous estimates were expecting a deeper drop to -11.5%. Previous reading was -10.9%.
There is a bit of improvement in risk appetite after the European bourses have commenced business on Wednesday, where the Fed's Beige Book is posed to grab all the investors' attention.
EURUSD is now losing 0.04% at 1.2936 with next support levels lining up at 1.2917 (MA55d) followed by 1.2827 (low Nov.22) and then 1.2825 (MA10d). On the upside, resistance levels are located at 1.3021 (high Oct.31) followed by 1.3023 (high Oct.25) and then 1.3025 (Upper Bollinger).
There is a bit of improvement in risk appetite after the European bourses have commenced business on Wednesday, where the Fed's Beige Book is posed to grab all the investors' attention.
EURUSD is now losing 0.04% at 1.2936 with next support levels lining up at 1.2917 (MA55d) followed by 1.2827 (low Nov.22) and then 1.2825 (MA10d). On the upside, resistance levels are located at 1.3021 (high Oct.31) followed by 1.3023 (high Oct.25) and then 1.3025 (Upper Bollinger).
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