OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex: EUR/USD glued to 1.2970/75

FXstreet.com (Barcelona) - After quite a volatile session, the single currency seems to have stabilized in the area of 1.2970/75 at the end of the trading session on Monday against the backdrop of an increasing demand for the safe haven USD.

Interesting docket in the euro area on Tuesday, as German, Italian and Spanish consumer prices will be released ahead of 6-m and 12-m auction of Letras in Spain. EMU industrial production will precede the more relevant ZEW Survey in Germany. Across the Atlantic, import and export prices will be in the limelight.

As of writing, the cross is up 0.02% at 1.2974 with the next resistance at 1.3051 (high May 10) followed by 1.3075 (MA21d) and then 1.3100 (MA10d).
On the flip side, a drop beyond 1.2932 (61.8% of 1.2740-1.3243) would expose 1.2916 (daily cloud base) and finally 1.2850 (76.4% of Apr. range).

The eurogroup approves 7.5 Bn in aid to Greece

The eurogroup has approved €7.5 billion in aid payments to Greece according to recent news. The first tranche will be disbursed immediately. However, the second will be delivered after Troika's conditions to be met.
Read more Previous

Forex Flash: AUD/USD potential downside ahead – Commerzbank

The selling interest surrounding the Aussie dollar is intensifying on Monday, punishing the cross throughout the session and dragging it to the current intraday lows around 0.9940...
Read more Next
Start livechat