Asian Indices fell following sizeable losses on Wall Street on markets concerns over the debt crisis in Greece and Spain. Moody’s lowered the outlook on Germany’s triple-A rating to negative from stable, also downgrade the outlooks on the Netherlands and Luxembourg and affirmed Finland’s triple-A rating. Later today France and Germany Flash PMIs are expected to slide to lower ground, also in the U.S House price index no change is likely from June and finally Manufacturing index is due to rise up by 3 points from June.
The pair dropped below the 1.21 line but recover slightly. A 4H close below 1.2100 level could open the way to move towards 1.2050, immediate resistance is seen around 1.2150.
