The positive news from Spain was the reason that helped to save EUR / USD from the fall to the minimum of 1.3032. The advert was the plan to reduce expenses by 10 million euro.
On a technical level, we note that the pair is trading without a definite trend in the short term, we have two points to negotiate, because at the moment it is better to wait for a consolidation and to be cautious, the pivot point - 1.3170 and the first 1.2960 weekly support.
We recommend buying above weekly W_S1 around 1.2960 with targets at 1.3306 or if the market closed today’s negotiations above 1.3170 to 1.3306 we recommend buying.
The range indicator shows the continuation of the sequence and the bearish momentum indicator is in overbought zone, indicating a possible rebound to the first weekly resistance.
