FXstreet.com (Barcelona) - EUR/USD is currently at 1.2265 down for the session -0.11% and about same amount up for the week. After a strange Asia-Pacific session with highs at 1.2283 and lows at 1.2250, lack of news both during and ahead of the European morning, have kept the pair directionless, with sharp moves either way mainly due to low liquidity. Local share markets also traded mixed, with Nikkei lower by -0.98%, while Hang-Seng barely flat, and Korean Kospy up by +0.17%.
London session ahead will only bring German PPI at 06:00 GMT in terms of macro data EUR related, with all the focus in the Eurogroup meetings, and the Spanish bailout first tranche to be outlined. No EZ sovereign debt auctions either, with Spanish 10 year yields yesterday closing near the 7%, while German ones almost at record lows around 1.22%, thus making risk premium against Spain close to the 600 basic points. Public sector net borrowing in the UK at 08:30 GMT could bring some volatility to EUR/GBP.
Immediate support to the downside for EUR/USD sits at recent session lows 1.2250, followed by yesterday's lows at 1.2230, and Tuesday's lows at 1.2190, while for the upside, nearest term resistance comes at recent session highs 1.2285, followed by Tuesday/yesterday's highs at 1.2317/24, and July 10 highs at 1.2335.
London session ahead will only bring German PPI at 06:00 GMT in terms of macro data EUR related, with all the focus in the Eurogroup meetings, and the Spanish bailout first tranche to be outlined. No EZ sovereign debt auctions either, with Spanish 10 year yields yesterday closing near the 7%, while German ones almost at record lows around 1.22%, thus making risk premium against Spain close to the 600 basic points. Public sector net borrowing in the UK at 08:30 GMT could bring some volatility to EUR/GBP.
Immediate support to the downside for EUR/USD sits at recent session lows 1.2250, followed by yesterday's lows at 1.2230, and Tuesday's lows at 1.2190, while for the upside, nearest term resistance comes at recent session highs 1.2285, followed by Tuesday/yesterday's highs at 1.2317/24, and July 10 highs at 1.2335.
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