Euro dollar: Close to a .23 $ Euro resists Wednesday, June 16, 2010 at 11:35

The Euro is the resistance against the dollar this morning and giving up a very limited field, after the sharp rise recorded yesterday. The climate remains very positive on risky assets in a context of significant remedial actions in the markets. The trading floors will have to be especially great as yesterday welcomed the contraction in import prices in the U.S. and the excellent publication of the index "Empire State".
If fears about the budgetary situation of the European countries most vulnerable, far from being dissipated, forbid us to talk about turning bullish on the euro, it is clear that the movement is catching the thickness in a favorable context short term to all classes of risky assets.

Around 11:10, the spot EURUSD is approximately 1.2290.

From a graphical perspective, the cross continues a consolidation phase over a threshold to $ 1.2300. Under these conditions hardly conducive to a position in the short term, we prefer to simply stay neutral in the short term.
In this context, the team Tradingsat.com deliver an independent commentary on the currency pair euro / dollar and recommend traders to remain off the market waiting for clear signs coming. However, we take care to note that a crossing of the voltage to 1.2350 revive the purchase of 1.2275 while a failure rekindle selling pressure.
On the macroeconomic front, the agenda will be very dense with the Atlantic, at 14:30, the publications of housing starts and building permits, at 15:15 the level of industrial production and capacity utilization, and finally will be unveiled at 16:30 traditional stocks weekly petroleum. (Paris time)
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Daily data chart: