FXstreet.com (Barcelona) - Despite recent USD slide across the board with USD index selling lower below 83 at a 9-day lows at 82.85, Euro keeps being even weaker, last at 1.2288 against USD, rejected once again from session highs at 1.2297. Not enough, everything risky is also higher in Asia-Pacific with Hang-Seng rising above +2% and Nikkei index +0.97%, and oil also at a fresh monthly high. Euro is hitting all time record lows against Aussie, Kiwi, and 20+ year lows against CAD.
Again, London session ahead comes with lack of EUR macro data related but EU current account at 08:00 GMT, though market will have other issues to focus on, like the EZ sovereign debt front, with France selling at 8:50-9:50GMT up to € 10.5B in several auctions, and specially Spain auctioning up to € 3B worth in medium term maturities, with 10y yields yesterday closing at 6.94%. Also worth noting German lower house of parliament to consider Spain's request for up to 100 billion euros in loans for its ailing banking sector at 12:00 GMT, half hour before US jobs data.
Immediate resistance to the upside for EUR/USD shows at recent session highs 1.2297, followed by yesterday's highs at 1.2307, and Tuesday’s highs at 1.2317, while to the downside closest support comes at recent session lows and intraday level 1.2275, followed by July 06 lows/July 13 highs at 1.2260, and July 10 lows at 1.2235.
Again, London session ahead comes with lack of EUR macro data related but EU current account at 08:00 GMT, though market will have other issues to focus on, like the EZ sovereign debt front, with France selling at 8:50-9:50GMT up to € 10.5B in several auctions, and specially Spain auctioning up to € 3B worth in medium term maturities, with 10y yields yesterday closing at 6.94%. Also worth noting German lower house of parliament to consider Spain's request for up to 100 billion euros in loans for its ailing banking sector at 12:00 GMT, half hour before US jobs data.
Immediate resistance to the upside for EUR/USD shows at recent session highs 1.2297, followed by yesterday's highs at 1.2307, and Tuesday’s highs at 1.2317, while to the downside closest support comes at recent session lows and intraday level 1.2275, followed by July 06 lows/July 13 highs at 1.2260, and July 10 lows at 1.2235.
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