Today the euro was traded close to its six-week high against the U.S. dollar, as there were good perspectives to deal with the debt crisis in the euro zone. This on its part creates the need for the single currency.
EURUSD reached the level 1.3072 during late Asian trade, which is the top for the session. Later on, the EURUSD stayed stable at 1.3059, going up with 0.04%.
The pair EURUSD is supposed to find support at 1.2982, which is bottom from yesterday, and resistance at 1.3138, a highest level from October 17.
Market traders were still watching close the negotiations between Democrats and Republicans to obviate the U.S. fiscal cliff, a set of spending cuts and tax increases.
The European currency has a slight change against the pound, with EURGBP reaching the level of 0.8112 and moved away from multi-month highs against the yen, with EURJPY going down to 107.20.
Later today, Spain is about to release official data on the change in the number of unemployed people, while finance ministers from the European Union are expected to negotiate in Brussels.
Levels of support for EURUSD: 1.3018, 1.2982, 1.2660;
Levels of resistance for EURUSD: 1.3138;