FXstreet.com (Barcelona) - After the Eurostat data revealing 17.56 million unemployed in the Euro area, with the unemployment rate now at a new high of 11.1% in May, the EUR/USD kept rallying to recover the Asian session losses. The pair has reached Friday’s NY close at 1.2652.
Improving sentiment is lowering Italian and Spanish 10-year yields to 5.70% and 6.22%. The market will now await the US session and the manufacturing ISM data, still on the expansionary side of the line.
“The pair broke above the 1.2550 resistance level so now a test of 1.27 is likely”, wrote Deltastock.com analyst Stoyan Mihaylov.
Improving sentiment is lowering Italian and Spanish 10-year yields to 5.70% and 6.22%. The market will now await the US session and the manufacturing ISM data, still on the expansionary side of the line.
“The pair broke above the 1.2550 resistance level so now a test of 1.27 is likely”, wrote Deltastock.com analyst Stoyan Mihaylov.
