EUR is sharply appreciating against the buck leaving behind the poor data out of Germany, as Factory Orders have declined 1.7% MoM and 7.8% since June 2011
Extremely light docket In the US, as Chief Bernanke will give a speech and Consumer Credit Change is also due ($11.0 billion exp.).
EUR/USD is now up 0.39% at 1.2436 facing the next hurdle at 1.2444 (high Aug.6) ahead of the psychological level of 1.2500 then 1.2539 (high Jul.5) and 1.2594 (Upper Bollinger).
On the flip side, a break belo 1.2342 (low Aug.6) would expose 1.2320 (MA30d) then 1.2300 (psychological level) and 1.2288 (MA10d).