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Forex pairs in this Article » EUR/USD (Barcelona) - The bloc currency is hovering over the key psychological mark at 1.3000 on Tuesday, boosted by the improvement out of the ZEW Survey in both Germany and the euro area. The later well-received Spanish auctions of 12m and 18m Letras have also collaborated in the upside. Good news from the Greek front was talking that Greece would meet its debt targets, worth ¬30 billion.

Karen Jones, Head of FICC Analysis at Commerzbank, "suggests "EURUSD has held the initial test of the 1.2880 28th November low. We look for rebounds to now be contained by the 1.3021/235 end of October highs. We regard the 1.2880/76 support as exposed". The expert also comments that a breakdown of 1.2815 would aim towards 1.2785 and then 1.2661/24

Strategist Geoffrey Yu at the Swiss bank UBS confirms the bank's bullish outlook on the cross, saying "As trend indicators are bullish, there is scope for the pair to resume strength. A break above resistance at 1.3002 would open 1.3127. Support lies at 1.2877/40".

Richard Yetsenga, Head of Global Markets Research at ANZ, remarks that the region at 1.2610/2740 should well contain potential pullbacks. "This should provide a solid base for secondary upside retracement, through 1.3175 towards the upper retracement level of 1.3500", he concludes.
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