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EUR/USD struggling at 1.2260, Friday’s low

By FXstreet.com,  July 11, 2012, 03:08:00 AM EDT

FXstreet.com (Barcelona) - Despite having already reached as high as 1.2270, the EUR/USD is struggling to extend gains above the 1.2260, Friday's plunge low. The pair is edging higher today, having extended its 2012 decline to 1.2235 low yesterday.

The German CPI inflation report dropped as expected from 1.9% to annualized 1.7% in June, pointing to a -0.1% monthly contraction. Germany will look into selling €5B of 10-year bunds while the ECB new deposit rate of 0% starts today.

Mataf.net analysts point to resistances at 1.2270, 1.2335 and 1.2400. On the downside, supports might be found at 1.2235, 1.2210 and 1.2185.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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