FXstreet.com (Barcelona) - The EUR/USD rose to resistance despite plummeting factory orders in Germany. The pair is supported by risk appetite as stocks gained. Above the 1.24-1.25 area support, the EUR/USD has tentatively broken its resistance from the recent downtrend.
This could mean a bullish breakout from a bullish W-formation, said Hans Nilsson, analyst at CMS Forex. There are strong support in the 1.24-area and strong resistance in the 1.34-area.