EUR/USD at $1.3550/60
EUR/USD made yesterday an attempt to rise to $1.3600, but was contained just below this area and returned to $1.3550. Today the upside has been so far limited by $1.3570.
European finance authorities underline the first successes at fighting the consequences of the fiscal crisis. Ireland and Spain plan to exit bailout programs. Concerns about US fiscal situation have also subsided, but the risk sentiment can’t bloom with more force until we have a certainty that America avoided default German ZEW economic sentiment in released in an hour (9:00 GMT) and a lightly lower reading’s expected, though there are hopes of improvements in most of its components. That’s why the pair finds itself in the consolidative mode.
Resistance is at $1.3600/05 and $1.3630.
Support is at $1.3550/40, $1.3515, $1.3487.
Chart. H4 EUR/USD