Investing.com – The euro advanced to a fresh 10-week high against the U.S. dollar on Tuesday, boosted by strong earning reports from European banks which eased fears over the regions sovereign debt crisis.
EUR/USD hit 1.3033 during European afternoon trade, the pairs highest since May 10; the pair subsequently consolidated at 1.3026, gaining 0.27%.
The pair was likely to find support at 1.2875, Monday's high and short-term resistance at 1.3094, the high of May 10.
Earlier in the day, Germany's largest bank, Deutsche Bank reported better than expected second quarter earnings, easing fears over the banks exposure to sovereign debt and helping boost risk appetite.
Meanwhile, the euro was down against the pound, with EUR/GBP shedding 0.08% to hit 0.8383.
Earlier Tuesday, data showed that Germany's consumer climate index advanced to 3.9 in July, its highest level since Oct. 2008, after climbing to a revised 3.6 in June.
EUR/USD hit 1.3033 during European afternoon trade, the pairs highest since May 10; the pair subsequently consolidated at 1.3026, gaining 0.27%.
The pair was likely to find support at 1.2875, Monday's high and short-term resistance at 1.3094, the high of May 10.
Earlier in the day, Germany's largest bank, Deutsche Bank reported better than expected second quarter earnings, easing fears over the banks exposure to sovereign debt and helping boost risk appetite.
Meanwhile, the euro was down against the pound, with EUR/GBP shedding 0.08% to hit 0.8383.
Earlier Tuesday, data showed that Germany's consumer climate index advanced to 3.9 in July, its highest level since Oct. 2008, after climbing to a revised 3.6 in June.