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Forex: EUR/USD around 1.3415

The single currency is consolidating gains above the key resistance at 1.3400, as we enter the last part of the NA session on Monday.

Light docket awaits investors on Tuesday. The French Current Account would kick in, preceding a key short-term Spanish auction of 6m and 12m Letras. Inflation figures in Portugal would follow ahead of a speech by ECB’s President Mario Draghi.

At the moment, the cross is up 0.36% at 1.3415 with the next resistance at 1.3426 (MA21d) ahead of 1.3430 (high Feb.8) and finally 1.3462 (low Feb.5).
On the flipside, a breakdown of 1.3360 (hourly lows Feb.11) would aim for 1.3326 (hourly low Feb.11) and then 1.3265 (low Jan.23).

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