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Forex: EUR/USD side-lined around 1.3080

By FXstreet.com,  December 13, 2012, 03:11:00 AM EDT

FXstreet.com (Barcelona) - The bloc currency has remained indifferent after Spanish inflation figures in November came in lower than the previous prints. The CPI has contracted 0.1% on a monthly basis and rose 2.9% YoY, vs. +0.8% and +3.5%, respectively.

In another direction, the EU has apparently come to terms regarding the SSM (Single Supervisory Mechanism) to be implemented towards the end of 2014, although it still has to be approved by the EU Summit this weekend.

EUR/USD is now advancing 0.04% at 1.3079 facing the next resistance at 1.3098 (high Dec.12) ahead of 1.3127 (high Dec.5) and then 1.3129 (high Oct.18).
On the other side, a violation of 1.3030 (hourly support) would aim to 1.2996 (low Dec.12) and finally 1.2930 (low Dec.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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