Forex: EUR/USD calm and waiting for EU headlines (Barcelona) - The EUR/USD is calm, trading around 1.3415/20 after breaching back above the 1.3400 mark as the European Council meets to decide on the 2014-2020 EU budget, how to spend nearly €1 Trillion.

The Italian industrial output improved from -7.7% to -6.6% in December (consensus of -7.2%), with a +0.4% monthly growth. The Greek CPI eased from 0.8% to 0.2% in January (YoY) and industrial production bounced from -3.2% (revised from -2.9%) to -0.5% in November. analyst point to resistances at 1.3415, 1.3460 and 1.3575. On the downside, supports might act at 1.3370, 1.3320 and 1.3270.