Forex: EUR/USD down in Asia on risk aversion

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Forex: EUR/USD down in Asia on risk aversion

FITITOL--> FXstreet.com (Barcelona) - EUR/USD is currently at 1.2973 off fresh session lows at 1.2965, down -0.23% for the session and -0.67% since yesterday's open in Asia-Pacific. Local share markets have sold off in the region with Nikkei index barely above the 9000 points losing some -1.45% at the moment, off from daily lows. Gold is below the $1600 mark about 30$ above 2012 lows, down since yesterday's open in the region by almost -3%.

According to Chris Capre from 2ndSkiesForex: “We advocate selling on any short-covering rallies up to 1.3130 for an eventual move towards the 2012 lows around 1.2650,” the analyst says, adding: “We will also keep our eyes out for a breakout pullback setup on the next daily close below 1.3000 which has not happened since late Jan this year.”

London session ahead shows a light agenda with only German trade balance at 06:00 GMT as EUR macro data related, and German 30 year bond auction at 08:30 GMT.

For the immediate term, support to the downside for EUR/USD shows at recent session lows 1.2966, followed by Monday's lows at 1.2955 and Dec 14 lows 1.2945, around 0.618 retrace of daily up leg 1.2616/1.3485. For the upside, closest resistance comes at yesterday's lows 1.2982, followed by April 16 lows 1.2994 and March 15 lows 1.3004, also session highs.