FXstreet.com (Barcelona) - The Asian session saw a weakening EUR/USD giving in to market pressure to retest yesterday's lows at 1.3080/85 area. That move lower triggered a bounce movement back to 1.3100 sentiment level ahead of the European opening.
The market will be eyeing the ZEW survey in Germany and the 12 and 18-month bill auctions in Spain, in a time where investors wait for the Prime Minister Rajoy to call for help and enable the start of the OMT program.
“We are cautious given the extent of the recent run up, but with technical indicators still positive, pressure remains on the topside”, wrote analyst Karen Jones, pointing to 1.3483/1.3540 (Fibo, this years high, 200 week ma)as target in case the pair breached 1.3180.
The market will be eyeing the ZEW survey in Germany and the 12 and 18-month bill auctions in Spain, in a time where investors wait for the Prime Minister Rajoy to call for help and enable the start of the OMT program.
“We are cautious given the extent of the recent run up, but with technical indicators still positive, pressure remains on the topside”, wrote analyst Karen Jones, pointing to 1.3483/1.3540 (Fibo, this years high, 200 week ma)as target in case the pair breached 1.3180.
