EUR/USD Lifts After Italy’s Debt Sale

On Tuesday Euro/Dollar continued increasing with almost 110 pips on Italy's debt sale. The European currency appreciated from 1.2884 to 1.2993 yesterday, matching the positive money flow sentiment at over +14%, closing the day at 1.2960. This morning the Euro is trading quietly, with movements at the upper end of yesterday's range for now.
On the 1 hour chart range trading has formed, while on the 3 hour chart the upward channel is still on hold. Break above the nearest resistance and yesterday's top at 1.2993 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.2884, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2770.
Today's focus is on Germany Retail sales, France PPI and Consumer spending, Germany Unemployment, Italy PPI, CPI and HICP, EU17 Harmonized CPI and Unemployment, US ADP employment, Employment cost index, and Chicago PMI, at 7, 7:45, 8:55, 9, 10, 12:15, 12:30 and 13.45 GMT respectively.
Quotes are moving just above the 20 and in line with the 50 EMA on the 1 hour chart, indicating short term bullish and medium term neutral pressure. The value of the RSI indicator is negative and calm, MACD is negative and quiet, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving over all neutral signal