Forex: EUR/USD opens Asia quiet after Belgium downgrade

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FXstreet.com (California) - The European single currency ended the week to past Friday with losses across the board; EUR/USD managed to close New York at 1.3035, posting the lowest weekly close since January.

At the weekly open, EUR/USD is hovering around 1.3040 in early Asia after news late Friday that Moody's downgraded Belgium two notches., but the pair only trades with a slight bid tone after Reuters reported that the German Finance Minister Schaeuble said Germany was considering paying their full contribution in 2012. The deadline for EU countries to come to an agreement about how much they can lend to the IMS was set for today.

Last quoted in the 1.3035 area, there is immediate resistance at 1.3050 and, above there, 1.3083 (Friday's high) and 1.3140 (4 Oct low). To the downside, support lies at 1.3015, 1.2990 and 1.2958.



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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