Meanwhile, the Spanish government sold a total of €4.763B out of a €3.5-4.5B target of 2015 (€0.992B at 3.660% - previously at 3.956%), 2018 (€3.04B at 4.680%) and 2032 (€0.731B at 6.328%) bonds. The cross is at 2-month lows since it trades below 1.2755 (September 10 low). The EUR/USD is looking to extend further, below 1.2723.
“Yesterday's sell-off bottomed at 1.2737 and current rebound should be considered corrective, preceding next slide to 1.2680-90”, wrote Deltastock analyst Stoyan Mihaylov, pointing to resistances at 1.2785 and 1.2830. “Crucial for the whole downtrend from 1.3139 high is already 1.2875”, he added.