The euro managed to reverse to the minimum that was registered yesterday, 1.2657. The pair is trading at 1.2735 at the moment. It is likely to continue the upward bounce. Yesterday it formed a technical figure that has bullish implications. The 1.2660 level, a dynamic support, will have to be broken by the euro to accelerate its fall to the psychological level of 1.25. However, the rise may be limited to the return of the 200 day moving average periods 1.2840 and 1.2830 weekly resistance. At these levels we will have the opportunity to sell targeted towards 1.2660 support.

In the United States the "Fiscal precipice" is starting to take over the headlines at the moment and of course all the problems related to European debt. This will keep the market uncertainty and maybe in the next few weeks it will influence price fluctuations.

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