FXstreet.com (Barcelona) – The bloc currency has accelerated its decline on Tuesday, trading in the 1.2270 zone as risk aversion is gathering pace.
EUR remains under pressure against a backdrop of increasing rumours involving Spain and its banking system, after a first tranche of €30 billion will be paid to the country at the end of July. The total aid package ammounts €100 billion.
As of writing, EUR/USD is losing 0.30% at 1.2274 facing the next support at 1.2230 (low Jul.9) ahead of 1.2190 (low Jul.1 2010) then 1.2151 (low Jun.29 2010) and 1.2132 (50% of 0.8225-1.6038).
On the upside, a breakout of 1.2365 (prior hourly low) would expose 1.2401 (high Jul.6) then 1.2456 (MA10d) and 1.2508 (low Jun.4).