Euro Higher in Forex Trading, But Can't Get Through 1.30 Level

The euro is higher in forex trading against the U.S. dollar, but still has trouble getting through the 1.30 level. Indeed, recent attempts following good economic data in the euro zone have been rebuffed.

GFT's Boris Schlossberg reports in FX360 on the situation for the euro in forex trading:

The euro however, continues to struggle with the 1.3000 barrier with all attempts to break out higher being capped at 1.3020 for the time being. There was some speculation in the market that M&A flow (a German company buying a US asset ) may have been responsible for the slowdown in price action and perhaps when that order clears, the pair could make another run at the 1.3050 level.  

Risk appetite in general is a little bit higher today, and the euro is being helped along by that. However, like the U.K. pound, the euro forex trading rally has slowed down. Getting through different resistance levels is proving difficult, since uncertainty about the economic picture still remains.