Forex: EUR/USD retreats from highs, around 1.2930

FXstreet.com (Barcelona) - After printing fresh highs above 1.2940, the single currency has given away part of those gains, returning to the proximities of 1.2930 as of writing. A sudden bout of risk appetite in combination with a short covering move have pushed the euro from levels around 1.2910, shrugging off the poor Italian Q3 GDP figures and the disappointing Sentix results.

As of writing, the cross is up 0.31% at 1.2930 with the next resistance at 1.2972 (38.2% of 1.3127-1.2876) ahead of 1.2974 (high Dec.7) and 1.2986 (MA10d).
On the flip side, a breach of 1.2880 (low Dec.10) would open the door to 1.2876 (low Dec.7) and 1.2839 (61.8% of 1.2661-1.3127).