The Euro fell versus the Dollar on Friday after Fitch Ratings downgraded the debt of Spain to AA+ from AAA. Overall, EUR/USD traded with a low of 1.2265 and a high of 1.2453. EUR/USD is consolidating towards its lowest level in 4 years and another breakdown is possible. Today, ECB President Trichet will speak in Vienna today. M3 Money Supply is expected lower with -0.2% versus -0.1% prior. CPI Flash Estimate is expected with 1.7% versus 1.5% prior.

EUR/USD - Last: 1.2320

Resistance

1.2400

1.2450

 

Support

1.2250

1.2200

1.2150

EURUSD.PNG