Ramon Ramirez Posted July 13, 2012 Report Share Posted July 13, 2012 FXstreet.com (Córdoba) - The euro bounced strongly after hitting a fresh 2-year low of 1.2162 at the beginning of the American session weighed by rumors the ECB could implement negative deposit rates in September. However, EUR/USD was firmly rejected from those lows and climbed more than 80 pips in a matter of minutes, helped by the positive opening in Wall Street. At time of writing, EUR/USD is quoting at the 1.2230/40 zone, now up 0.3% on the day. The 100-hour SMA at 1.2250 should offer immediate resistance, followed by 1.2295 and 1.2330. On the downside, supports could be faced at 1.2200, 1.2160 and 1.2150. There is chatter Eastern European CB, the big buyer in EURUSD, is smashing market higher amid thin liquidity. Quote Link to comment Share on other sites More sharing options...
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