Forex: EUR/USD recovers to 1.3070
Forex pairs in this Article »
EUR/USD
FXstreet.com (Barcelona) - After dipping to the 1.3040 region, the shared currency has found some bids and is back to the vicinity of 1.3070 as of writing, ahead of the ECB meeting due later.
The French jobless rate during the third quarter rose to 10.3%, up from previous 10.2%, colaborating in the early decline.
Back to Greece's downgrade to SD, Senior Analyst Flemming Nielsen at Danske Bank commented "there was no substantial impact when Standard & Poor's yesterday evening cut its rating of Greece to selective default. However, Standard & Poor's also said that it might raise its long-term rating of Greece back to 'CCC' once the buyback plan for Greece's debt is complete".
The cross is now posting marginal gains at 1.3070, or 0.02% with the next resistance at 1.3127 (high Dec.5) ahead of 1.3129 (high Oct.18) and 1.3140 (high Oct.17).
On the downside, a breach of 1.3007 (MA10d) would expose 1.2973 (low Dec.3) and finally 1.2969 (low Nov.30).
The French jobless rate during the third quarter rose to 10.3%, up from previous 10.2%, colaborating in the early decline.
Back to Greece's downgrade to SD, Senior Analyst Flemming Nielsen at Danske Bank commented "there was no substantial impact when Standard & Poor's yesterday evening cut its rating of Greece to selective default. However, Standard & Poor's also said that it might raise its long-term rating of Greece back to 'CCC' once the buyback plan for Greece's debt is complete".
The cross is now posting marginal gains at 1.3070, or 0.02% with the next resistance at 1.3127 (high Dec.5) ahead of 1.3129 (high Oct.18) and 1.3140 (high Oct.17).
On the downside, a breach of 1.3007 (MA10d) would expose 1.2973 (low Dec.3) and finally 1.2969 (low Nov.30).
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