Forex - EURUSD eases down, breaking below 1.29

Forex Pros – The euro eased down from a 10-week high against the U.S. dollar on Monday, breaking below 1.29, ahead of the release of two key reports on the U.S. housing sector.

EUR/USD hit 1.2892 during European afternoon trade, a fresh daily low, shedding 0.29% after falling from 1.3025, the pair's highest since May 10.

The pair was likely to find support at 1.2708, the low of July 15 and resistance at 1.3094, the high of May 10.

Earlier in the day, Spain, Ireland and Greece sold almost EUR 10 billion of Treasury bills, with demand rising for shorter-dated securities, amid growing hopes that the euro zones financial crisis has been contained.

The euro was also down against the pound, with EUR/GBP shedding 0.01% to hit 0.8497.

Later Tuesday, the U.S. was to publish closely watched data on building permits and housing starts.

Sources:http://www.forexpros.com/news/forex-news/forex---eurusd-eases-down,-breaking-below-1.29-149555