FXstreet.com (Barcelona) - The euro has remained indifferent after current account surplus in Germany has narrowed to €9.0 billion during May. Trade surplus in the same period has followed suit, printing €15.0 billion. Both print were down from €11.2 billion and €16.1 billion in the previous month respectively.
In the meantime, Spanish 10-yr bond yields are trading near the critical 7.0% while Italian borrowing costs are over 6.0%.
EUR/USD is up 0.21% at 1.2289, with the next resistance at 1.2365 (prior hurly low) ahead of 1.2401(high Jul.6) then 1.2473 (MA10d) and 1.2508 (low Jun.4).
On the flipside, a breakdown of 1.2190 (low Jul.1 2010) would bring 1.2151 (low Jun.29 2010) then 1.2132 (50% of 0.8225-1.6038) and 1.2110 (low Jun.14).
In the meantime, Spanish 10-yr bond yields are trading near the critical 7.0% while Italian borrowing costs are over 6.0%.
EUR/USD is up 0.21% at 1.2289, with the next resistance at 1.2365 (prior hurly low) ahead of 1.2401(high Jul.6) then 1.2473 (MA10d) and 1.2508 (low Jun.4).
On the flipside, a breakdown of 1.2190 (low Jul.1 2010) would bring 1.2151 (low Jun.29 2010) then 1.2132 (50% of 0.8225-1.6038) and 1.2110 (low Jun.14).
