Euro USD managed to find support on low ground and bounce off. Italy’s technocrat Prime Minister Mario Monti said that Greece will likely stay in the euro-zone, and that Italy can help convince Germany to “support Europe’s common good”. Germany just opposed sharing its credit rating through eurobonds , and not for the first time. Will the pair close the week with a positive tone like last week? Or…

The euro free fall continues, as EUR/USD has dropped to lows not seen since July 2010. Weak business climate and manufacturing data out of Germany pushed the pair downwards, and the inconclusive, unimpressive EU Summit was of no help to the beleaguered currency. There are numerous Euro-zone releases this morning, along with two key indicators out of the US – Core Durable Goods Orders and Unemployment Claims.

Here’s an update on technicals, fundamentals and what’s…

The euro continues to slide, as the currency has dropped to levels not seen since August 2010. With the EU Summit underway, the markets will be hoping that there are some tangible results and not just handshakes and hugs. The leaders will need to reach some compromise on how to fix the crisis gripping the Euro-zone. With all the bad news coming out of the Euro-zone, the markets finally had something to cheer about this morning, with a sparkling Euro-zone Current Account. The…

• ding at 1.2765.
• Current range: 1.2760 to 1.2814.

• Further levels in both directions: Below: 1.2760, 1.2660, 1.2623 and 1.2587, 1.25, 1.24 and 1.2320.
• Above: 1.2814, 1.2873, 1.29, 1.2960, 1.30, 1.3050, 1.3110 and 1.3180.
• The pair broke out of the steep channel (seen on the …