EUR/USD trades around 1.3030 after overcoming the 50% retracement of the decline from 1.3324 to 1.2704. Firmer US equities amid signs of life in the US housing market are helping prompt a rebound in EUR/JPY which trades now around session highs of 116.30. US shares are up about 0.7% on the day.
1.3087 is the next area of resostance for EUR/USD, the 61.8% retracement of the aforementioned decline from 1.3324. Support is lacking until the 1.2915 area on dips.