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EUR/USD consolidating around 1.3080/85

FXstreet.com (Barcelona) - The shared currency keeps session highs in the area just below the key 1.3100 handle, as the US session is drawing to a close.

Moving forward Tuesday’s docket, the euro would face the first test with the Spanish unemployment change (-50.2K), ahead of the EMU’s Producer Prices. Across the pond, the most relevant data will be the US trade balance for the month of April. Market consensus expects the deficit to widen to $41.0 billion from $38.8 billion.

At the moment, the pair is gaining 0.70% at 1.3085 with the next resistance at 1.3110 (MA100d) followed by 1.3194 (high May 8). On the flip side, a break below 1.2944 (low May 31) would expose 1.2939 (MA10d) and finally 1.2934 (low May 30).

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