More from FXstreet.com

Forex: EUR/USD upside capped at 1.2960

By FXstreet.com,  September 28, 2012, 06:46:00 AM EDT

FXstreet.com (Barcelona) - The results of the last stress tests on the Spanish banking system are due after the European close. Until that moment, market participants would see the single currency consolidating between 1.2920 and 1.2960
Recall that market consensus expects the banks would need something between €60 billion and €70 billion to quell their funding troubles, above June's results of €50-60 billion.

US docket completes the data front on Friday, with Personal Consumpton Expenditure (+1.6% YoY exp.), Chicago PMI (53 exp.) and the Reutes/Michigan Consumer Sentiment Index (79 exp.).

The cross is advancing 0.21% at 1.2937 and a break above 1.2971 (high Sep.25) would open the door to 1.2987 (MA10d) then 1.3059 (high Sep.20) and 1.3120 (high Sep.18).
On the downside, support levels lie at 1.2909 (hourly low Sep.28) followed by 1.2862 (MA21d) then 1.2830 (low Sep.27) and 1.2824 (MA200d).




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:



Latest News Video

Bernanke's Testimony and FOMC Minutes Awaited
Bernanke's Testimony and FOMC Minut...
Oil Dips as Dollar Rises
Oil Dips as Dollar Rises            
Lightning Strikes Multiple Homes Across Chicago
Lightning Strikes Multiple Homes Ac...
Dollar Rises as Investors Await Fed
Dollar Rises as Investors Await Fed


Sign-in
Existing NASDAQ.com member? Log in here.

By signing into to the site using any of the third-party services above, you agree to NASDAQ.com's Terms of Use.

From Our Trusted News Source





Most Active by Volume:

Company Last Sale Change Net / %
BAC $ 13.44 0.07  0.52%
F $ 14.95 0.10  0.66%
CLWR $ 3.40 0.14  4.29%
SIRI $ 3.515 0.02  0.43%
MSFT $ 34.85 0.23  0.66%
CSCO $ 24.01 0.07  0.27%
MRK $ 47.33 2.12  4.69%
PFE $ 28.78 0.08  0.28%