Forex: EUR/USD quiet around 1.3200 after decline following Spanish downgrade by S&P
EUR/USD is currently at 1.3203, holding below yesterday's lows, previous to the S&P announcement of the Spanish sovereign debt downgrade two notches from A to BBB+. The pair fell from NY close price around 1.3240 to as low as 1.3178 on the news, recovering from there till current quotes with not much of a move since then, for the last 4 hours moving in a 20 pip range.
The session ahead for London shows a moderately soft agenda in terms of EUR data related, with GfK German consumer climate and German import prices on monthly basis at 06:00 GMT, followed by French consumer spending 45 minutes later, and several Spanish minor data coming out along the European morning. Market will also pay attention to Italian bond auctions at 09:00 GMT, in order to find what resulting yields come out from the auctions.
For the upside, immediate resistance for EUR/USD comes at recent session highs 1.3212, followed by Wednesday's highs 1.3235, and yesterday's highs 1.3262. For the downside, support shows at recent session lows and Wednesday lows 1.3177/3, followed by April 19 highs 1.3166 and Tuesday's lows 1.3145.
EUR/USD is currently at 1.3203, holding below yesterday's lows, previous to the S&P announcement of the Spanish sovereign debt downgrade two notches from A to BBB+. The pair fell from NY close price around 1.3240 to as low as 1.3178 on the news, recovering from there till current quotes with not much of a move since then, for the last 4 hours moving in a 20 pip range.
The session ahead for London shows a moderately soft agenda in terms of EUR data related, with GfK German consumer climate and German import prices on monthly basis at 06:00 GMT, followed by French consumer spending 45 minutes later, and several Spanish minor data coming out along the European morning. Market will also pay attention to Italian bond auctions at 09:00 GMT, in order to find what resulting yields come out from the auctions.
For the upside, immediate resistance for EUR/USD comes at recent session highs 1.3212, followed by Wednesday's highs 1.3235, and yesterday's highs 1.3262. For the downside, support shows at recent session lows and Wednesday lows 1.3177/3, followed by April 19 highs 1.3166 and Tuesday's lows 1.3145.
