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.