FXstreet.com (Barcelona) - The decline of the EUR/USD today started by losing the 1.2400 and ended (for now) by reaching as low as 1.2327. As the Fitch rating agency affirmed Germany’s AAA with a stable outlook, the pair bounced to Monday’s low, at 1.2342, where it is currently quoting.
Nonfarm productivity and unit labor costs in the US rose in Q2, by +1.6% and 1+7%, respectively, above the +1.3% and +0.6% market consensus. Investors still await the 10-year debt auction in the US. The previous sale registered an average yield of 1.459%.
“Yesterday's attempt for a new high above 1.2443 failed and trading remains captured in a tight range above 1.2345 static support”, wrote Deltastock.com analyst Stoyan Mihaylov, with a bullish bias above 1.2401 towards 1.2509 and eventually 1.2740.
Nonfarm productivity and unit labor costs in the US rose in Q2, by +1.6% and 1+7%, respectively, above the +1.3% and +0.6% market consensus. Investors still await the 10-year debt auction in the US. The previous sale registered an average yield of 1.459%.
“Yesterday's attempt for a new high above 1.2443 failed and trading remains captured in a tight range above 1.2345 static support”, wrote Deltastock.com analyst Stoyan Mihaylov, with a bullish bias above 1.2401 towards 1.2509 and eventually 1.2740.
