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May 28, 2013
EUR/USD bounces off to 1.2920
FXstreet.com (Barcelona) - The single currency is paring initial losses on Monday, climbing to the area of 1.2920/25 after bottoming in the vicinity of 1.2880.
Markets are returning to the normal activity on Tuesday following yesterday’s holidays in the UK and the US. The euro calendar will bring a measure of the French Consumer Confidence while the Italian auctions of 5-y and 10-y bonds will be in the limelight. Across the pond, the most relevant event will be the US Consumer Confidence during May.
As of writing, the pair is losing 0.05% at 1.2923 with the next support at 1.2904 (low May 24) followed by 1.2897 (MA10d) and finally 1.2821 (low May 23). On the upside, a breakout of 1.2994 (high May 24) would then target 1.2998 (high May 22) en route to 1.3030 (high May 14).
Markets are returning to the normal activity on Tuesday following yesterday’s holidays in the UK and the US. The euro calendar will bring a measure of the French Consumer Confidence while the Italian auctions of 5-y and 10-y bonds will be in the limelight. Across the pond, the most relevant event will be the US Consumer Confidence during May.
As of writing, the pair is losing 0.05% at 1.2923 with the next support at 1.2904 (low May 24) followed by 1.2897 (MA10d) and finally 1.2821 (low May 23). On the upside, a breakout of 1.2994 (high May 24) would then target 1.2998 (high May 22) en route to 1.3030 (high May 14).