FXstreet.com (Barcelona) - The single currency has not only reverted its initial losses but it has also pierced the key mark of 1.2900 as of writing, after the European Commission has casted a ray of light into the troubled Spanish situation, assessing that the country is going through key reforms that will put the country back into the right direction.
As of writing, the cross is shrugging off Standard & Poor’s downgrade, up 0.31% at 1.2914 facing the next hurdle at 1.2925 (MA10d) followed by 1.2955 (MA21d) then 1.2991 (high Oct.9) and 1.3035 (high Oct.8).
On the downside, a breach of 1.2827 (hourly low Oct.11) would clear the way to 1.2822 (MA200d) en route to 1.2804 (low Oct.1) and 1.2791 (Lower Bollinger).
As of writing, the cross is shrugging off Standard & Poor’s downgrade, up 0.31% at 1.2914 facing the next hurdle at 1.2925 (MA10d) followed by 1.2955 (MA21d) then 1.2991 (high Oct.9) and 1.3035 (high Oct.8).
On the downside, a breach of 1.2827 (hourly low Oct.11) would clear the way to 1.2822 (MA200d) en route to 1.2804 (low Oct.1) and 1.2791 (Lower Bollinger).
