FXstreet.com (Barcelona) - The single currency is trading firmly in the positive territory, eyeing the key resistance at 1.2900 ahead of the unemployment rate in Germany. Market consensus expects the headline to remain unchanged at 6.8% in September.
Data wise, a set of confidence and sentiment indices will also be published for the euro zone, Italy and Portugal ahead of a key Italian 10-yr bond auction. Across the Atlantic, Durable Good Orders and the annualized GDP during the second quarter (+1.7% exp.) are also expected.
German Import Price index unexpectedly rose 1.3% in a year through August and 1.3% MoM, beating expectations at +2.7% and +0.8% respectively.
The cross is up 0.17% at 1.2895 with the next resistance at 1.2913 (hourly high Sep.26) followed by 1.2971 (high Sep.25) and then 1.2997 (MA10d).
On the flip side, a breakdown of 1.2823 (MA21d) would bring 1.2815 (low Sep.12) and then 1.2753 (low Sep.11).
Data wise, a set of confidence and sentiment indices will also be published for the euro zone, Italy and Portugal ahead of a key Italian 10-yr bond auction. Across the Atlantic, Durable Good Orders and the annualized GDP during the second quarter (+1.7% exp.) are also expected.
German Import Price index unexpectedly rose 1.3% in a year through August and 1.3% MoM, beating expectations at +2.7% and +0.8% respectively.
The cross is up 0.17% at 1.2895 with the next resistance at 1.2913 (hourly high Sep.26) followed by 1.2971 (high Sep.25) and then 1.2997 (MA10d).
On the flip side, a breakdown of 1.2823 (MA21d) would bring 1.2815 (low Sep.12) and then 1.2753 (low Sep.11).
