FXstreet.com (San Francisco) - EUR/USD finished unchanged after trading an intraday range between 1.2765 and 1.2830 on Tuesday, with market participants now awaiting the outcome of the ongoing euro zone FinMin meeting in Brussels on the Greek bailout. A successful auction of Spanish debt overnight also kept EUR bids in action, having exceeded the 4.5 billion target by nearly 500 million sold.
Technically speaking, “The main resistance level to watch comes around 1.2840, 38.2% retracement of the 1.3170/1.2660 fall: once above, the pair may extend its gains towards 1.2890/1.2900 area, strong static support back in October,” says Valeria Bednarik, Chief Analyst at FXstreet.com. “Failure to deliver, will likely see the pair back nearing 1.2745 area where buying interest may resurge.”
Below the mentioned 1.2745 support area, the analyst identifies further support at 1.2720. The pair currently holds near its weekly high, around 1.2820, in early Asia.
Technically speaking, “The main resistance level to watch comes around 1.2840, 38.2% retracement of the 1.3170/1.2660 fall: once above, the pair may extend its gains towards 1.2890/1.2900 area, strong static support back in October,” says Valeria Bednarik, Chief Analyst at FXstreet.com. “Failure to deliver, will likely see the pair back nearing 1.2745 area where buying interest may resurge.”
Below the mentioned 1.2745 support area, the analyst identifies further support at 1.2720. The pair currently holds near its weekly high, around 1.2820, in early Asia.
