FXstreet.com (San Francisco) - The Euro has reacted up against the Dollar after the stress test results in Spain. The EUR/USD was trading at intra-day lows close to 1.2850 just before the releases but after few minutes the pair jumped around 50 pips to 1.2890.
Currently the pair is pricing at 1.2884, 0.21% below opening price action. "Unsurprisingly, Spain test bank come in line with expectation, triggering a bounce in the EUR/USD up to 1.2890 static resistance level," comments Valeria Bednarik from FXstreet.com. "Further advances need to overcome 1.2910, 23.6% retracement of the latest daily bullish run, and past sessions low, to confirm bulls are back in control."
"In that case, resistances come at 1.2960, and 1.3000, not expected for today," points Bednarik. "To the downside, support continues to be at the 1.2830 weekly low, unlikely to give up today. Below that level, 1.2750 area is next."
Currently the pair is pricing at 1.2884, 0.21% below opening price action. "Unsurprisingly, Spain test bank come in line with expectation, triggering a bounce in the EUR/USD up to 1.2890 static resistance level," comments Valeria Bednarik from FXstreet.com. "Further advances need to overcome 1.2910, 23.6% retracement of the latest daily bullish run, and past sessions low, to confirm bulls are back in control."
"In that case, resistances come at 1.2960, and 1.3000, not expected for today," points Bednarik. "To the downside, support continues to be at the 1.2830 weekly low, unlikely to give up today. Below that level, 1.2750 area is next."
