Forex News: EUR/USD capped at 1.2968

[Ramon Ramirez]

FXstreet.com (Barcelona) - The EUR/USD was capped at 1.2968 in the sequence of its Asian session upside from 1.2924. After having peaked in the European session, the pair retraced almost 30 pips to quote around 1.2940.

 

German Chancellor Merkel insists on the “sustainable growth” line, warning for the dangers of deficit-driven growth in a non-austerity scenario.

 

“Break below 1.2910/00 to open next targets at 1.2875/57. Only regain of strong barriers at 1.3060/80 would delay bears”, wrote Windsor Brokers analyst Slobodan Drvenica, not ruling out a retest of 1.3000 first.