FXstreet.com (Barcelona) - Although the US markets will be closed due to Hurricane Sandy, the EUR/USD is pressing higher ahead of the Redbook Index and the S&P/Case-Shiller Home Prices Index. The resistance at 1.2960 is being challenged with higher demand in a low volume trading.
The European bourses are trading higher on Tuesday while the Eurogroup discusses the best way to treat Greek debt and put the country back on a sustainable path. Data in the Eurozone and respective countries came in generally worse, although the Italian 5 and 10 year bond auction found lower yields.
“Yesterday's several tests of 1.2885 area failed and current intraday bias is positive above 1.2916 support, struggling below 1.2950 dynamic resistance”, wrote Deltastock.com analyst Stoyan Mihaylov, expecting a break through the descending trend line to initiate a rise for through 1.3022 crucial level, en route to 1.3170 high.
The European bourses are trading higher on Tuesday while the Eurogroup discusses the best way to treat Greek debt and put the country back on a sustainable path. Data in the Eurozone and respective countries came in generally worse, although the Italian 5 and 10 year bond auction found lower yields.
“Yesterday's several tests of 1.2885 area failed and current intraday bias is positive above 1.2916 support, struggling below 1.2950 dynamic resistance”, wrote Deltastock.com analyst Stoyan Mihaylov, expecting a break through the descending trend line to initiate a rise for through 1.3022 crucial level, en route to 1.3170 high.
