Analysts at Citigroup claim that if the single currency breaks above 1.3700 trading versus the greenback stop loss orders should be lifted up to 1.3750, while resistance will be found in the 1.3770/80 area. The specialists think that the buyers will step in on the dips to the 1.3600 zone.

Citigroup points out that no significant data are due in the euro area, so the market’s attention will be likely focused on the launch of EUR5 billion of EFSF bonds. According to the estimates, the 5-year issue had drawn demand of more than EUR20 billion, though only EUR5 billion is expected to be offered.

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