by Fri, 23 Jul 2010 17:56:00 +0200
Forex: EUR/USD rises back above 1.2860
FXstreet.com (Córdoba) – The Euro is gaining the upside quite fast with some short covering ahead of the stress test results, to be release in a few minutes. Market players have been waiting long for the data, and this kind of position adjustments before a big event are very common in the forex market. Currently EUR/USD trades at 1.2865/70, 0.21% below today’s opening price.
The Euro also gained momentum against the Pound and the Swiss Franc. The downside rally of the EUR/GBP eased in the last hour and the pair is slowly trimming losses, trading back above 0.8340. EUR/CHF is trading at daily highs above 1.3550.
| Technical Analysis (2010-07-23 15:30 GMT) | |
|---|---|
EUR/USD 1.2854/1.2856 - O: 1.2956 H: 1.2969 L: 1.2954 C: 1.2961 | |
| Trend | R3: 1.2898 |
 | R2: 1.2866 |
| R1: 1.2834 | |
| S1: 1.2711 | |
| S2: 1.2743 | |
| S3: 1.2774 | |
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