FXstreet.com (Barcelona) - The single currency has retraced almost all post-FOMC profits, leaving behind the key mark of 1.3000 ahead of a key Spanish bond auction. Spain will look to sell €4.5 billion of the 10yr benchmark, in a context of decreasing yields and talks of an aid package for the country.
A batch of preliminary services/manufacturing PMI for September will also be released for Germany, France and the whole bloc. Prior surveys expect the headlines to improve a hair from the previous prints.
The cross is now sharply falling 0.57% at 1.2974 (session lows) with the next support at 1.2963 (MA10d) ahead of 1.2937 (high Sep.12) and 1.2855 (low Sep.13).
On the flip side a break above 1.3059 (hourly high Sep.20) would bring 1.3120 (high Sep.18) and then 1.3173 (high Sep.17).
A batch of preliminary services/manufacturing PMI for September will also be released for Germany, France and the whole bloc. Prior surveys expect the headlines to improve a hair from the previous prints.
The cross is now sharply falling 0.57% at 1.2974 (session lows) with the next support at 1.2963 (MA10d) ahead of 1.2937 (high Sep.12) and 1.2855 (low Sep.13).
On the flip side a break above 1.3059 (hourly high Sep.20) would bring 1.3120 (high Sep.18) and then 1.3173 (high Sep.17).
