Forex Flash: EUR/USD heading to 1.30 if above 1.2885 – Saxo Bank

FXstreet.com (Barcelona) - EURUSD has recently broken above latest descending trendline coming from mid Oct highs at 1.3140, printing a fresh 10-day high so far at 1.2868. But in case it managed to break above 1.2885, "then we're effectively on to a full-blown test of 1.3000 and even 1.3170 and significantly higher in the bigger picture if risk appetite comes back into vogue and Obama and the Republicans manage to strike a deal well before year-end," says Head of FX Strategy at Saxo Bank, John J Hardy.