The euro is very optimistic because some eurozone news gave a bit of force to the pair. Now it must face the 1.3214 area, for example, Spanish recession slowed in the second quarter of 2013, thanks to the improvement in the external field. The Bank of Spain showed that Gross domestic product (GDP) declined 0.1 percent quarter-on-quarter in the three months to June, slower than a 0.5 percent fall seen in the first quarter.
On the technical level, we note that this pair is showing overbought levels, the fact that now the market has a pause is an antecedent of what is to come. If the pair is below 1.3214, we recommend selling all the way up 1.30, psychological level and below 1.30 the fall could be faster to the level of 1.28.
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