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Forex pairs in this Article » EUR/USD (Barcelona) - The German Parliament is due to vote on the Greek deal and the EURUSD came down from its earlier printed high at 1.3027 to tests the 1.3000 psychological level. In the meantime, the October EMU unemployment rate rose from 11.6% to 11.7% as expected. The preliminary release of November CPI inflation report in the Eurozone came in much lower than expected, falling from 2.5% to 2.2%. Some analysts were estimating a softer figure after seeing the German data easing as well.

The preliminary release of the Italian CPI (EU Normalized) fell -0.3% in November, allowing the annualized figure to soften from 2.8% to 2.6%, as expected. The October unemployment rate in Italy was published, rising from 10.8% to 11.1%, coming higher than the expected 10.9%. Retail Sales in Greece contracted further in September, from -9.2% to -12.1%.

As of writing, the 1.3000 is being threatened as the EURUSD moves lower, now at 1.2991, with the weight of the economic calendar releases. "My outlook thoughremains bullish, for a break through 1.3020 static resistance, en route to 1.3170 high", wrote analyst Stoyan Mihaylov, pointing to crucial support at 1.2874, as a violation of that level will signal, that the whole rise from 1.2736 is complete.
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