FXstreet.com (Barcelona) - As the economic calendar plate became clean after the release of the German industrial production, higher at +0.8% in August (YoY) from -1.4% (consensus of -1.5%), the EUR/USD extended its decline further to 1.2937 (October 3 high).
The pair is currently edging lower by -0.48%, at 1.2953, and the market will be more sensitive to headlines ahead of the Eurogroup meeting. The US session will not take place as the country celebrates Columbus Day.
“Today's slide below 1.2997 states, that a top is in place at 1.3070 and the outlook here is bearish, for a break through 1.2960 support area, towards 1.2880, en route to 1.2750”, wrote Deltastock.com analyst Stoyan Mihaylov, pointing to intraday resistance at 1.2997, followed by 1.3030.
The pair is currently edging lower by -0.48%, at 1.2953, and the market will be more sensitive to headlines ahead of the Eurogroup meeting. The US session will not take place as the country celebrates Columbus Day.
“Today's slide below 1.2997 states, that a top is in place at 1.3070 and the outlook here is bearish, for a break through 1.2960 support area, towards 1.2880, en route to 1.2750”, wrote Deltastock.com analyst Stoyan Mihaylov, pointing to intraday resistance at 1.2997, followed by 1.3030.
