FXstreet.com (San Francisco) - The EUR/USD pair has traded a 1.3090-1.3172 intraday range this Tuesday, pushing to daily highs during the European session on a better than expected German confidence report, but has since pulled back to levels back near its starting price, last at 1.3135.
The increase in economic sentiment indicates that investors are bullish about the euro, according to Marcelo Melo, Director at Tradervox.com. “According to some analysts, the positive data from Europe and fully-participated auctions in the region are providing support for the euro and this might hold the EUR/USD cross at $1.32; however, there are those analysts who are predicting that the euro will finish the year at around $1.23,” he says.
The increase in economic sentiment indicates that investors are bullish about the euro, according to Marcelo Melo, Director at Tradervox.com. “According to some analysts, the positive data from Europe and fully-participated auctions in the region are providing support for the euro and this might hold the EUR/USD cross at $1.32; however, there are those analysts who are predicting that the euro will finish the year at around $1.23,” he says.
