FXstreet.com (Barcelona) - The bloc currency is retracing almost all its previous gains after Spanish 10-yr benchmark yields are back above the dangerous 7.0%, marking the fourth consecutive day of declines.
Ahead in the day, Italian bond auctions due later on promise to test the investors’ confidence ahead of the EU Summit kicking in today.
EUR/USD is now losing 0.03% at 1.2470, with the immediate support at 1.2442 (low Jun.26) ahead of 1.2410 (low Jun.5) and 1.2375 (low Jun.40.
On the flip side, a break above 1.2528 (MA21d) would bring 1.2565 (high Jun.25) and then 1.2583 (MA10d).
Ahead in the day, Italian bond auctions due later on promise to test the investors’ confidence ahead of the EU Summit kicking in today.
EUR/USD is now losing 0.03% at 1.2470, with the immediate support at 1.2442 (low Jun.26) ahead of 1.2410 (low Jun.5) and 1.2375 (low Jun.40.
On the flip side, a break above 1.2528 (MA21d) would bring 1.2565 (high Jun.25) and then 1.2583 (MA10d).
