Yesterday EURUSD rallied a little after Fitch Ratings announced it wasn’t going to downgrade France’s AAA credit rating. However, the rating agency may cut the sovereign ratings of such eurozone members as Italy, Spain , Belgium, Ireland, Slovenia and Cyprus .
France will retain its highest rating, which reassures investors. According to Eugene Olkhovsky, a Canadian expert in financial markets for , this is really good news for the eurozone and its currency.
Yesterday EURUSD reach $ 1,2790.
The current support 1.2720 (1.2714 Forex) - Friday’s max volume;
The current support 1.2780 (1.2774 Forex) – a considerable volume cluster;
The preferred direction of trading is bearish (sales around resistance levels).
