Forex: EUR/USD to fresh session highs on USD weakness overall

FXstreet.com (Barcelona) - EURUSD is skyrocketing at the moment to fresh weekly highs 1.2625, still bellow recent 2-month highs seen Friday at 1.2636 following Bernanke's speech at Jackson Hole. The pair bounces from session lows at the very start of the trade around 1.2580 presumably on stop-loss triggering and USD weakness overall, gaining so far +0.36% for the session, specially strong against Aussie, with EURAUD at fresh 2-month highs above 1.2300.

With not a clear catalyst known so far but thin markets ahead of RBA rate statement at 04:30 GMT, and USD index nearing the 81 round figure around 3 and a half-month lows, while gold keeps pushing higher touching a fresh 5-month high at $1696, and also oil at session highs with Brent oil at $116.85. US SP500 futures also push higher to yesterday's highs, with Nikkei back to even after a down open, on the back of a slightly yen weakness.

Immediate resistance to the upside for EURUSD comes at recent session and week highs 1.2628, followed by Friday's highs at 1.2637, and June 11 highs at 1.2668. For the downside, closest support shows at yesterday's highs 1.2610, followed by current session lows/Aug 28 highs at 1.2577/80, and Monday's lows at 1.2560.