FXstreet.com (Barcelona) - Mixed data out of the euro zone have fueled further upside in the cross, reaching 1.2960 as of writing. In fact, Consumer Confidence and Business Climate both came in at -25.7 and -1.62, below estimates at -25.6 and -1.40, respectively. Furthermore, Economic Sentiment and Services Sentiment have improved, while Industrial Confidence has deepened further.
Prior data showed that German unemployment rate remained unchanged at 6.9% and the estimated Spanish GDP has contracted 1.6% YoY in the third quarter.
As of writing, the cross is up 0.37% at 1.2951 with the next resistance at 1.2972 (MA21d) followed by 1.3011 (MA10d) then 1.3084 (high Oct.22) and 1.3125 (Upper Bollinger).
On the flip side, a breach of 1.2884 (low Oct.26) would bring1.2835 (MA200d) then 1.2829 (Lower Bollinger) and 1.2827 (low Oct.11).
Prior data showed that German unemployment rate remained unchanged at 6.9% and the estimated Spanish GDP has contracted 1.6% YoY in the third quarter.
As of writing, the cross is up 0.37% at 1.2951 with the next resistance at 1.2972 (MA21d) followed by 1.3011 (MA10d) then 1.3084 (high Oct.22) and 1.3125 (Upper Bollinger).
On the flip side, a breach of 1.2884 (low Oct.26) would bring1.2835 (MA200d) then 1.2829 (Lower Bollinger) and 1.2827 (low Oct.11).
