FXstreet.com (Barcelona) - EUR/USD is last around 1.2300 slightly retracing from fresh 4-day highs at 1.2313, following less dovish than expected RBA minutes, extending the bounce from yesterday's lows at 1.2175, when much worse than expected US retail sales figures came out. Risk-on mode has been settled in Asia-Pacific, sending USD index below 83.00, and local share markets rallying, along with gold and oil. The pair is up +0.42% for the week.
London session ahead will bring key risk event German ZEW economic sentiment at 09:00 GMT as main data for the European morning, as long as Spanish and Greek sovereign short term auctions, in 12-18 month bills, and 13 week bills worth € 1.25B respectively. Later will come US CPI at 12:30 GMT and Bernanke testifying before the US Senate Banking Committee at 14:00 GMT. UK CPI due at 08:30 GMT might bring volatility to EUR/GBP cross as well.
Immediate resistance to the upside for EUR/USD shows at recent session and 4-day high at 1.2313, followed by July 10 highs/May 31 lows at 1.2334/6, and May 30/July 05 lows at 1.2360. For the downside, closest support comes at yesterday's highs 1.2290, followed by Friday's highs/July 06 lows at 1.2257, and July 10 lows at 1.2234.
London session ahead will bring key risk event German ZEW economic sentiment at 09:00 GMT as main data for the European morning, as long as Spanish and Greek sovereign short term auctions, in 12-18 month bills, and 13 week bills worth € 1.25B respectively. Later will come US CPI at 12:30 GMT and Bernanke testifying before the US Senate Banking Committee at 14:00 GMT. UK CPI due at 08:30 GMT might bring volatility to EUR/GBP cross as well.
Immediate resistance to the upside for EUR/USD shows at recent session and 4-day high at 1.2313, followed by July 10 highs/May 31 lows at 1.2334/6, and May 30/July 05 lows at 1.2360. For the downside, closest support comes at yesterday's highs 1.2290, followed by Friday's highs/July 06 lows at 1.2257, and July 10 lows at 1.2234.
