FXstreet.com (Barcelona) - After climbing to a three-week high on Friday, the EUR/USD pairing has opened the week gently bid at 1.3271 vursus 1.3266 late Friday in New York.
This early optimism comes as conterns about a slowdown in the eurozone eased slightly, while the dollar is seems to remain supported by an improving economic landscape in the United States.
The EUR/USD last traded near the open at 1.3270 after hitting a recent three-week high of 1.3292, it posted its best weekly performance since late February.
A key level of resistance for thepair lies in the 1.3300 figure, and a break of that level would likely move it up toward the 1.3500 price zone. Suppor tis noted at 1.3245 and 1.3225.
On the fundamental front, "There are increased fears that Portugal will require an additional bailout package and the Spanish situation is clearly deteriorating by the day," reprots investica. " The policy response forced on the Spanish government by the EU will guarantee that Spain will suffer a sovereign-debt crisis. With youth unemployment at close to 50%, it will take very little to spark a political and social crisis."
This early optimism comes as conterns about a slowdown in the eurozone eased slightly, while the dollar is seems to remain supported by an improving economic landscape in the United States.
The EUR/USD last traded near the open at 1.3270 after hitting a recent three-week high of 1.3292, it posted its best weekly performance since late February.
A key level of resistance for thepair lies in the 1.3300 figure, and a break of that level would likely move it up toward the 1.3500 price zone. Suppor tis noted at 1.3245 and 1.3225.
On the fundamental front, "There are increased fears that Portugal will require an additional bailout package and the Spanish situation is clearly deteriorating by the day," reprots investica. " The policy response forced on the Spanish government by the EU will guarantee that Spain will suffer a sovereign-debt crisis. With youth unemployment at close to 50%, it will take very little to spark a political and social crisis."
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.
Read more: http://community.nasdaq.com/News/2012-03/forex-eurusd-gaps-to-13270-at-the-opening.aspx?storyid=129535#ixzz1qAxrCra7
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