Forex: EUR/USD extends the downward correction

FXstreet.com (Barcelona) - after reaching maxima of the week in the limits of 1.3200 today Tuesday, the euro has begun a downward correction that is taking it to the current region of 1.3150/55, at the time that the appetite for risk seems to take a break.

Volatility and volume begin to decline as markets are approaching the holiday tomorrow by the labor day, since there will be no activity in the majority of markets in Europe. As a result, the calendar in the United States.UU has gained in importance, with the biggest event of the day being the meeting of the Fed. Other publications of importance will be the Manufacturing PMI and ISM, and ADP employment report.

At the time of writing the pair goes up 0.42% at 1.3155 with next resistance at 1.3202 (max. abr.16) followed by 1.3229 (50% of Feb-Apr slide).On the other hand, beyond falling 1.3032 (MA21d) open the door to 1.2988 (min abr.25) enroute to 1.2958 (MA200d).