FXstreet.com (Barcelona) – The FX market is trading very slowly on Tuesday, and after a test of 1.2280 area for intraday support, the EUR/USD climbed back above the opening price to cap at 1.2334 high.
The German top Court respects the parliament’s approval of the euro-area bailout fund and the bloc’s fiscal pact and will be deciding on the legality of the country’s participation in the European Stability Mechanism and fiscal pact soon.
The EUR/USD trades at the opening price surrounding area of 1.2312. “There is a chance of a correction to 1.2406 after which the downward trend would be reinforced with a fall to the intraweek levels of support mentioned above”, wrote Deltastock.com analyst Stoyan Mihaylov, referring to 1.2150 followed by 1.1880.
