- German retail sales plunge
- Spanish PM embroiled in potential bribery scandal
- Greek default has not been averted: Moody’s
Back in the day (the day being defined as anytime until about six weeks ago…) EUR/USD would have taken a shellacking on this combination of headlines. Instead, we sit a trivial 30-odd pips below trend highs.
First support of note comes in at 1.3530 with solid buying further seen at 1.3480/1.3500. 1.3585 /90. remains resistance near-term. There is little above that until the 1.38 handle, so be very cautious on the short side. In fact, avoid it completely.
