FXstreet.com (Barcelona) - The bloc currency is giving away some ground after Spanish President M.Rajoy assessed that a full bailout would hinge on the evolution of the bond yields in the upcoming days. In the same direction, EU’s Barroso remarked that a single supervisor is a condition sine-qua-non for a banking union in the euro zone, emphasizing – once again, and again and again - that the EU needs to move to a fiscal union. He also added that Greece could see light at the end of the tunnel in this autumn (?).
The cross is advancing 0.09% at 1.2869 as of writing, and a breakout of 1.2887 (high Sep.12) would open the door to 1.2900 (psychological level) then 1.2935 (high May 14) and 1.2958 (high May 11).
On the flip side, support levels lie at 1.2846 (low Sep.12) ahead of 1.2832 (MA200d) then 1.2800 (psychological level) and 1.2753 (low Sep.11).