Forex: EUR/USD returns to 1.3150

FXstreet.com (Barcelona) - After climbing to the boundaries of 1.3180, the EUR upside run out of steam and retreated to the current area of 1.3150/55, despite the Spanish short-term bond auctions printing lower yields and extending the positive momentum of the peripheral debt markets. The 10-year benchmark remains well below the 5.0%, adding to the optimism.

A grim result came in from Greece, where the unemployment rate posted a record high, escalating to 27.0% in February, higher than January’s 26.7%.

At the moment EUR/USD is flat at 1.3151 with the immediate support at 1.3111 (MA10d) ahead of 1.3071 (low May 8) and finally 1.3068 (low May 7).
On the flip side, a breakout of 1.3194 (high May 8) would aim for 1.3220 (high May 2) and finally 1.3243 (high May 1).