FXstreet.com (Barcelona) – The UK industrial and manufacturing production data as well as the UK trade balance are triggering greenback weakness, with growing demand for the GBP and the EUR. US earnings season is helping sentiment, despite all the negative bias against the EUR/USD.
The German Constitutional Court will not decide today about Germany’s participation in the ESM fund. The final decision is now expected to be made within weeks.
The EUR/USD came off from its lows at 1.2280 area and returned back to the opening price of 1.2312. First resistance is at 1.2320, that has been limiting the upside since Monday. 1.2380/.12400 would be the next challenge. On the downside, below 1.2280 comes 1.2255 (Monday low) and 1.2200 (psychological level).
