FXstreet.com (Barcelona) - The bloc currency is trading closer to the psychological resistance of 1.3000 on Thursday, printing fresh session highs as risk appetite is creeping back to the markets.
Mood surrounding the euro is improving after yesterday poor results out of the euro zone PMI and German IFO. The FOMC meeting passed almost unnoticed, helping the euro in its recovery.
As of writing, the cross is up 0.16% at 1.2995 with the next resistance at 1.3019 (MA10d) ahead of 1.3084 (high Oct.22) then 1.3125 (Upper Bollinger) and 1.3135 (Down trend lines= from 2011 high).
On the flip side, a breakdown of 1.2892 (low Oct.15) would expose 1.2828 (MA200d) then 1.2827 (low Oct.11) and 1.2807 (Lower Bollinger).
Mood surrounding the euro is improving after yesterday poor results out of the euro zone PMI and German IFO. The FOMC meeting passed almost unnoticed, helping the euro in its recovery.
As of writing, the cross is up 0.16% at 1.2995 with the next resistance at 1.3019 (MA10d) ahead of 1.3084 (high Oct.22) then 1.3125 (Upper Bollinger) and 1.3135 (Down trend lines= from 2011 high).
On the flip side, a breakdown of 1.2892 (low Oct.15) would expose 1.2828 (MA200d) then 1.2827 (low Oct.11) and 1.2807 (Lower Bollinger).
