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Forex: EUR/USD muted after Spanish auction

The bloc currency kept the area around 1.3350/55 after a well-received auction of Spanish short-term debt. In fact, Spain sold €4 billion of Letras maturing in 3 months, with yields around 0.42%, lower than the 0.44% in the previous auction.

Next on tap will be the German ZEW Survey at the top of the hour. Market consensus expects the series to improve from January’s prints.

As of writing, the pair is advancing 0.02% at 1.3353 with the next resistance at 1.3393 (high Feb.15) followed by 1.3415 (hourly high/low Feb14) and then 1.3423 (MA10d).
On the downside, a breach of 1.3307 (low Feb.15) would expose 1.3286 (low Jan.24) en route to 1.3276 (MA55d).

Forex Flash: Bund upside looms following 143.15/18 resistance – RBS

According to Technical Markets Strategist Dmytro Bondar at RBS, “Bund prices reached a strong resistance region of 143.15/18 after forming a weekly bullish engulfing on the continuation chart and inverse head and shoulders looming on the daily chart.”
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Spain 3-Month Letras Auction decreases to 0.421% vs 0.441%

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