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Forex: EUR/USD eases ahead of Samaras-Juncker headlines

By FXstreet.com,  August 22, 2012, 06:04:00 AM EDT

FXstreet.com (Barcelona) - After an almost 40-pip rally to 1.2479 high obtained during the European session, the EUR/USD eased to 1.2465 area, where it sits as the market waits for headlines coming from the Samaras-Juncker meeting. The pair is trading slightly lower on the day, consolidating yesterday's gains.

The German bond auction results show a sale of €4.083B of 2-year paper at zero yield, little above of July's -0.06%. The Dutch Finance Minister is against giving Greece more time for spending cuts and reforms.

"A local high has been set at 1.2488 and current slide is just a corrective pullback, preceding next wave upwards, to 1.2560", wrote Deltastock.com analyst Stoyan Mihaylov, pointing to support at 1.2440 and 1.2380.




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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