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EUR/USD regains 1.2600

FXStreet (Córdoba) - A very disappointing German industrial production print put euro and regional equities under pressure Tuesday, sending EUR/USD temporarily below 1.2600.

EUR/USD retreated from a high of 1.2665 to a low of 1.2583 during the European session, before the euro found buyers. The pair has recovered some ground over the last hours and climbed to the 1.2620 zone, where it records a 0.27% loss on the day.

The US docket is pretty light for the day, so EUR/USD may enjoy a phase of consolidation ahead of the FOMC minutes due Wednesday 18:00 GMT.

EUR/USD technical outlook


“Yesterday's break through 1.2570 unleashed a rise to 1.2675 and the current intraday bias is positive above 1.2570 support, with a risk of another upswing towards 1.2700-15 resistance area”, said Stoyan Mihaylov, analyst at Deltastock. “A clear break through the latter will signal, that a significant low is placed at 1.2500”.

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