FXstreet.com (Barcelona) - The EUR/USD keeps adding pressure to the upside as reports of further policy easing in China in H2 2012 coupled with the improved European sentiment ahead of key meetings this week.
Germany is showing signs of leniency toward Greece’s bailout and the ECB bond-buying plan is reportedly being welcomed by the German Asmussen. Fed’s Lockhart speech didn’t show much his cards, dovish in some ways but little concerned about disinflation and deflation.
The EUR/USD already trades at 1.2480 area. “Should the 55 day moving average at 1.2390 be exceeded on a daily New York closing basis, though, the current August high at 1.2444 will be eyed instead”, wrote Commerzbank analyst, pointing to 1.2600 if 1.2444 is overcome.
Germany is showing signs of leniency toward Greece’s bailout and the ECB bond-buying plan is reportedly being welcomed by the German Asmussen. Fed’s Lockhart speech didn’t show much his cards, dovish in some ways but little concerned about disinflation and deflation.
The EUR/USD already trades at 1.2480 area. “Should the 55 day moving average at 1.2390 be exceeded on a daily New York closing basis, though, the current August high at 1.2444 will be eyed instead”, wrote Commerzbank analyst, pointing to 1.2600 if 1.2444 is overcome.
