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18 Apr 2013
Forex: EUR/USD holds gains at 1.3060 ahead of US session
FXstreet.com (Barcelona) - The EUR/USD is at gains today despite yesterday’s full retracement of Tuesday’s upside after retesting resistance at the 1.3200 psychological level. The market is currently holding its position at 1.3060 (+0.21%) ahead of the New York opening and US jobless claims, Philadelphia Fed manufacturing and CB leading indicator.
The Presidential election in Italy starts today, but it’s still unclear whether there has been enough agreement between the main parties to get sufficient votes for a single candidate to elect. Investors will also be eyeing any headline coming from the G20 meeting as they focus on central bank stimulus and fiscal targets.
Spain had its 3, 5 and 10-year debt being sold at 3.257% (from 3.598%), 2.792% (from 3.019%) and 4.612% (from 4.898%), respectively, raising a total of €4.71B. In France, 2 and 5 year bills totaled an amount of €7.911B, with yields at 0.24% and 0.73%, respectively.
“The EUR/USD completely retraced Tuesday's rise yesterday, validating a bearish engulfing pattern and calling for a short-term bearish bias”, wrote MIG Bank analysts Bijoy Kar and Luc Luyet, pointing to hourly resistances at 1.3102 and 1.3125 (50% and 61.8% retracement of yesterday's decline), while hourly supports are at 1.3002 (17/04/2013 low) and 1.2962 (08/04/2013 low).
The Presidential election in Italy starts today, but it’s still unclear whether there has been enough agreement between the main parties to get sufficient votes for a single candidate to elect. Investors will also be eyeing any headline coming from the G20 meeting as they focus on central bank stimulus and fiscal targets.
Spain had its 3, 5 and 10-year debt being sold at 3.257% (from 3.598%), 2.792% (from 3.019%) and 4.612% (from 4.898%), respectively, raising a total of €4.71B. In France, 2 and 5 year bills totaled an amount of €7.911B, with yields at 0.24% and 0.73%, respectively.
“The EUR/USD completely retraced Tuesday's rise yesterday, validating a bearish engulfing pattern and calling for a short-term bearish bias”, wrote MIG Bank analysts Bijoy Kar and Luc Luyet, pointing to hourly resistances at 1.3102 and 1.3125 (50% and 61.8% retracement of yesterday's decline), while hourly supports are at 1.3002 (17/04/2013 low) and 1.2962 (08/04/2013 low).