Markets remain risk-on biased on Tuesday, waiting for ECB’s J.Asmussen’s speech and the results in the US economy: ISM Manufacturing (50.0 exp.) and Construction Spending (+0.4% exp.).
EUR/USD is now up 0.13% at 1.2604 facing the next hurdle at 1.2638 (high Aug.31) followet by 1.2641 (Upper Bollinger) then 1.2663 (50% of 1.3284-1.2042) and 1.2693 (high Jun.29).
On the flip side, a breakdown of 1.22581 (low Sep.4) would open the door to 1.2550 (low Sep.3) then 1.2548 (MA10d) and then 1.2500 (psychological level).