Forex Flash: EUR higher on OMT rumors about Portugal and Ireland – TD Securities

FXstreet.com (Barcelona) - Despite the weaker tone seen in the past 24 hours, finding a base in the mid 1.32 area, the EURUSD is back at higher prices based on rumors that Ireland and Portugal could make requests to initiate the OMT program today."That may not come to fruition (we don't think it will) but the EUR is still on a bullish path from a technical standpoint on the daily and weekly charts, leaving us favouring higher levels regardless", wrote analysts Shaun Osborne and Greg Moore, adding that both the EURUSD and EURJPY are closer to the highs set earlier this week."For EURUSD, breaking decisively into the 1.34 handle is the next major challenge, while for EURJPY 120.00/10 is the level to watch", they concluded.