FXstreet.com (Córdoba) - EUR/USD managed to hold onto gains near recent peaks ahead of the New York open even after news Spain's region of Catalonia applied for government liquidity program. Catalonia would request €5.023 billion out of the €18 billion the central government has to support regions.
EUR/USD rose to a high of 1.2561 on Tuesday, supported by lower Spanish borrowing costs and as the greenback weakened on the back of Fitch comments on US rating. At time of writing, the pair is trading at the 1.2550/55 zone, printing a 0.5% gain on the day.
From a technical view, "The euro is seeing a bounce as retracement objectives in the $1.2420-1.2460 area indeed attracted buyers ahead of Bernanke's speech Friday", says the BBH analyst team. "Last week's high near $1.2600 will provide some resistance but gains could extend towards $1.2700".
EUR/USD rose to a high of 1.2561 on Tuesday, supported by lower Spanish borrowing costs and as the greenback weakened on the back of Fitch comments on US rating. At time of writing, the pair is trading at the 1.2550/55 zone, printing a 0.5% gain on the day.
From a technical view, "The euro is seeing a bounce as retracement objectives in the $1.2420-1.2460 area indeed attracted buyers ahead of Bernanke's speech Friday", says the BBH analyst team. "Last week's high near $1.2600 will provide some resistance but gains could extend towards $1.2700".
