EURUSD rose yesterday and closed at 1.3276. The German Ifo Business Climate came out in line with the market expectations at a reading of 106.2 in July. The M3 Money Supply year over year dropped to a reading of 2.3 percent in June. For a first time in two years the unemployment level in Spain recorded a drop, boosting the prediction of the Spanish Prime Minister Mariano Rajoy for an economic recovery. The Economic Calendar is very light today, but investors should be aware of potential volatility which may be caused by rumors or non-scheduled market comments. Support for the EURUSD is seen at 1.3173 and resistance is seen at 1.3296. The HotForex Traders Board shows that 68 percent of the traders are short on the EURUSD.
EURUSD moves lower on the last day of the week
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