Forex Flash: EUR/USD would face pressure over the weekend and Monday – Rabobank

FXstreet.com (Barcelona) - The single currency is extending its intraday upside, although the impetus seems to be stalling as of writing, with the cross navigating the 1.2870/80 region after today's tops at the 1.29 figure.

Jane Foley, Senior Currency Strategist at Rabobank, assesses the cross is approaching interesting levels, remarking at the same time that offers are clustered around 1.2870/75, and once surpassed would trigger stops towards 1.2880 and 1.2915 ahead of the psychological 1.3000; on the flip side, supports line up at 1.2850 en route to 1.2825, ahead of the relevant 1.2660/70

"Clearly there is much in the way of event risk for EURUSD and the weekend's Catalan Elections and Monday's reconvened Eurogroup are the next major events on our radar that have the potential to shift the path of the Eurozone", she concludes.