EUR/USD continues falling and is now below low support, following the rising uncertainty about the Spanish banking system. The euro-area’s fourth largest economy could be a favorite to win another European trophy in football, but its economy is an a race to the bottom. Spain is waiting for an external report on the banks and is unwillingly making a U-turn regarding external aid. This move continues Bernanke’s refusal to hint on QE. He even said that there are “diminishing returns” on this. Will the pair erase all this week’s gains?
Here’s an update on technicals, fundamentals and what’s going on in the markets.
Read the rest of the article [B][I][URL="http://www.forexcrunch.com/eurusd-june-8-losing-low-support-as-spanish-bailout-looks-imminent/"]EUR/USD Losing Low Support as Spanish Bailout Looks Imminent[/URL][/I][/B]
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