Forex: EUR/USD retraces from highs around 1.2790

FXstreet.com (Barcelona) - The bloc currency keeps pushing higher on Monday, despite the poor data out of the industrial sector in Italy: industrial sales dipped further 5.4% YoY during September and 4.2% on a monthly basis; industrial orders just followed suit, contracting 4.0% MoM and 12.0% over the last twelve months.

In another direction, the Bank of Spain has informed that banks’ bad loans have edged higher in September to 10.7% from 10.5% in the previous print.

EUR/USD is now giving away some pips after climbing as high as 1.2787, gaining 0.20% at 1.2775 with the next resistance at 1.2802 (high Nov.15) followed by 1.2807 (MA200d) and 1.2848 (MA21d).
On the flip side, a dip below 1.2691 (low Nov/16) would open the door to 1.2662 (low Nov.13) and 1.2650 (MA100d).

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