EUR Trading Outlook (01-06-2012)

The Euro (EUR) the market is rife with rumors of IMF bailouts for Spain after the IMF leader laGarde had meetings with Spanish officials overnight. These have been denied but the market managed to rally briefly as Greek exit polls showed more support for staying in the EU and Greek banks got access to ECB funding. Resistance was seen above 1.2400 and when IMF rumors were discounted the market fell back towards 1.2350.

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