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Forex: EUR/USD hovering over 1.3100

By FXstreet.com,  October 17, 2012, 01:59:00 AM EDT

FXstreet.com (Barcelona) - The single currency is circling around 1.3100 on Wednesday, extending the upside since Monday, when was trading in the vicinity of 1.2900

The upbeat tone among investors sentiment was supported in part after agency Moody's maintained Spain within the investment grade space, confirming its Baa3 rating.

Very light docket in the euro zone, with only EMU Construction Output to be released. Housing Starts and Building Permits are due in the US as well.

The cross is now advancing 0.32% at 1.3097 with the next resistance at 1.3120 (high Sep.18) ahead of 1.3173 (high Sep.17) and 1.3181 (high May 3).
On the flip side, a breakdown of 1.2979 (high Oct.15) would expose 1.2944 (low Oct.16) then 1.2892 (low Oct.15) and 1.2827 (low Oct.11).




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

Referenced Stocks:



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