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Forex: EUR/USD retracing losses to 1.3050

FXstreet.com (Barcelona) - The economic calendar is pretty empty today, and the release of Greece current account didn’t have any impact on the EUR/USD. The pair rose to 1.3075 resistance before falling to 1.3035 area on the European opening. Such area is acting as support as the session unfolds and now the EUR/USD is now getting back to Friday’s close at 1.3057.

Greece current account deficit widened from €-0.222B to €-0.716B in February. The preliminary release of EMU consumer confidence in April due at 14:30 GMT is expected to drop from -23.50 to -23.85. US existing home sales should ease its rising pace from 0.8% to 0.6% (MoM) with a move from 4.98M to 5.01M in March.

“We view the small rebound from 1.3000 as corrective and continue to view the recent failure ahead of the 1.3225/50% retracement as an interim peak”, wrote Commerzbank analyst Karen Jones, vieweing support at 1.3000/1.2995 guarding the 200 day ma at 1.2934 and the 1.2740 recent low.

Forex: USD/CHF trading near session highs at 0.9343/50

The USD/CHF is trading near session highs Monday (0.9350), having been rejuvenated after a disappointing previous week. During European trading, the pair is now testing the 0.9343/46 level, up a healthy +0.27% thus far.
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