EUR/USD downside contained by 1.3010

The setback of the euro versus the dollar seems to have found an interim bottom at the 1.3010 area where EUR/USD set a 3-day low during the New York session, weighed by disappointment over the EU summit and broad risk aversion.

The euro had rallied this week and reached a 1-month high of 1.3140 on Wednesday underpinned by hopes Spain will seek a bailout soon and Moody's decision to keep the country's on investment grade. However, as euphoria faded, the EUR/USD has retraced part of its recent gains during the last sessions before finding support at 1.3012, leaving the 1 hour charts forming a rounding top figure.