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11 Apr 2013
Forex: EUR/USD in session highs around 1.3090
FXstreet.com (Barcelona) - The single currency is printing fresh highs in the vicinity of 1.3090 on Thursday as risk appetite is swelling amongst investors. In the meantime, market participants would focus their attention on the Italian 3-year bond auction due later.
“In the near-term the pair is being pressured lower as the ECB moves closer to easing monetary policy given the weakening growth and inflation outlook. However, the recent decline in Spanish and Italian government bond yields is providing offsetting upward pressure for EUR/USD”, suggested Lee Hardman, Currency Analyst at BTMU.
At the moment, the cross is up 0.14% at 1.3089 facing the next hurdle at 1.3122 (high Apr.10) followed by 1.3135 (high Mar.8) and finally 1.3146 (MA55d).
On the flip side, a break below 1.3044 (hourly lows Apr.11) would aim for 1.3006 (low Apr.9) en route to 1.2963 (low Apr.8).
“In the near-term the pair is being pressured lower as the ECB moves closer to easing monetary policy given the weakening growth and inflation outlook. However, the recent decline in Spanish and Italian government bond yields is providing offsetting upward pressure for EUR/USD”, suggested Lee Hardman, Currency Analyst at BTMU.
At the moment, the cross is up 0.14% at 1.3089 facing the next hurdle at 1.3122 (high Apr.10) followed by 1.3135 (high Mar.8) and finally 1.3146 (MA55d).
On the flip side, a break below 1.3044 (hourly lows Apr.11) would aim for 1.3006 (low Apr.9) en route to 1.2963 (low Apr.8).