FXstreet.com (Barcelona) - EUR/USD opened the week higher on the lack of news coming Monday from Asia-Pacific markets, added Tokyo is closed on holiday, touching a session high at 1.2275 in very early trade. It turned lower from there to recent session lows at 1.2232 on speculation ECB might worsen outlook for Spanish troubled bank bond holders, as well as on Chinese PM Wen Jiabao words for Xinxhua news agency mentioning China economic recovery might not be on the way yet. It trades last at 1.2239.
London session ahead comes in relatively soft in terms of EUR macro data related, starting with Italian trade balance at 08:00 GMT, followed by EU CPI and trade balance one hour later. Biggest risk event will take place at 12:30 GMT in the form of US retail sales. Also at 10:50 GMT France will auction Treasury bills. Spanish 10 year yield closed Friday at 6.68% , while French one did so at 2.23%.
Immediate support to the downside shows at recent session lows 1.2232, followed by July 11 lows at 1.2221, and Friday/Thursday 2012 lows at 1.2165/2. For the upside, closest resistance for EUR/USD comes at Friday's highs 1.2256, followed by session highs at 1.2275, and July 11 highs at 1.2297.
London session ahead comes in relatively soft in terms of EUR macro data related, starting with Italian trade balance at 08:00 GMT, followed by EU CPI and trade balance one hour later. Biggest risk event will take place at 12:30 GMT in the form of US retail sales. Also at 10:50 GMT France will auction Treasury bills. Spanish 10 year yield closed Friday at 6.68% , while French one did so at 2.23%.
Immediate support to the downside shows at recent session lows 1.2232, followed by July 11 lows at 1.2221, and Friday/Thursday 2012 lows at 1.2165/2. For the upside, closest resistance for EUR/USD comes at Friday's highs 1.2256, followed by session highs at 1.2275, and July 11 highs at 1.2297.
