The SPX 500 sits about 1 point lower than Mondays close on the S&P 500 (as of 8:05am ET). As we head into the US open we are off the morning lows, however Austerity controversy will be today’s big factor that could drive the EUR/USD lower.
The EUR/USD has briefly broken 1.30 (as of 8:35am ET). Yesterdays low was 1.2953, which will come in for today’s support level. If the EUR/USD starts to gain, we could see resistance come in at the 1.3063 area. Don’t get over leveraged into any positions as spikes could be just from news commentary.
