Forex: EUR/USD inching higher, around 1.2770

FXstreet.com (Barcelona) - The euro is trading in the upper end of today’s session, in the vicinity of 1.2770, as risk appetite is extending its positive momentum. The single currency was buoyant overnight, with trade reflecting the positive talks over the ‘fiscal cliff’ last Friday, between US President B.Obama and the Congressional leaders.

Data-wise, Italian Industrial Production will precede EMU Construction Output. Across the pond, Existing Home Sales and NAHB Housing Market index are also expected.

EUR/USD is up 0.14% at 1.2767 facing the next resistance at 1.2802 (high Nov.15) followed by 1.2810 (MA200d) and 1.2876 (high Nov.7).
On the flip side, a dip below 1.2662 (low Nov.13) would bring 1.2653 (daily cloud base) and 1.2627 (low Sep.7).

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