Reports of a Spain/EU deal to implement internal fiscal and economic reforms in exchange for a bailout package caused some market movement during the European session. Since, Canadian CPI provided the only excitement of the afternoon, causing price to bounce 20 pips and test 0.8. However, the level has proved resilient throughout the day and price has declined from resistance to currently trade at 0.7986.
The Forex Ticket team see the pair ranging into the close, maintaining the current range between 0.8005 and 0.7985.
European Equities are higher as we approach the European close alongside the majority of commodities.