Euro Dollar: The euro took a breather Friday, June 11, 2010 at 11:44

The Euro remains above a threshold at $ 1.2100, after the meeting of the Monetary Committee of the European Central Bank. If as expected by the vast majority of currency traders, the main refinancing rate, the 'Resi', was not changed (1%, its lowest level since its creation), it is to the press conference M . Trichet that the attentions were laid. The Chairman of the Monetary Institution said the "credibility" of the single currency and has sought reassurances about the situtation in Greece. Moreover, the favorable equity markets on both sides of the Atlantic gives a boost to the asset risk is the euro.

Around 11:30 am, the spot EURUSD is approximately 1.2120.

From a graphical perspective, the pan-European currency has begun, following the surge began June 6, a phase of consolidation that takes place in a horizontal range between 1.2090 and 1.2150. For now, a further break in the corridor is the preferred option by our team of analysts.
In this context, the team makes a neutral Tradingsat.com for the next few hours and offers traders stay out of the market in anticipation of next clear signs. However, we take care to note that a crossing of the voltage to 1.2150 revive the purchase while a break of 1.2090 would boost the selling pressure.
On the macroeconomic front, the agenda will be full this afternoon with U.S. publications include: retail sales at 14:30, the confidence index from the University of Michigan at 15:55 and 16:00 in business inventories. (Paris time)

Hourly data chart:



Daily data chart