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EUR/USD calm near 1.2660

FXStreet (Edinburgh) - The single currency remains on the positive path as we enter the last part of the US session, with EUR/USD currently hovering over 1.2660/65.

EUR/USD capped by 1.2700

It seems fair to say that the chances that EUR/USD can surpass 1.2700 today appear quite remote given that the weekend lull has practically taken over the markets. That said, the pair is posting weekly losses for the first time after two consecutive gains, with the 1.2900 band still remaining elusive for EUR-bulls. So, what’s lies ahead for the pair? The ECB will deliver the final results from the stress tests over the weekend, although markets already know that more than twenty European banks were unsuccessful. Moving forward to Monday, the German IFO and EMU’s M3 Money Supply are due, preceding services PMI tracked by Markit and more housing data from the US economy.

EUR/USD levels to consider

At the moment the pair is up 0.13% at 1.2664 with the immediate resistance at 1.2728 (10-d MA) ahead of 1.2740 (high Oct.22) and then 1.2840 (high Oct.21). On the downside, a break below 1.2614 (low Oct.23) would expose 1.2605 (low Oct.10) and finally 1.2583 (low Oct.7).

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