26 Nov 2014
EUR/USD regains 1.2480
FXStreet (Edinburgh) - The shared currency is picking up pace again, pushing EUR/USD back to the 1.2480/85 area after dropping near 1.2440.
EUR/USD down from the 1.2500 area
After climbing to the 1.2500 region early in the European morning, spot deflated to test session lows around 1.2440, following the erratic mood around the greenback. Ahead in the session, the US docket will be key in determining the price action in the very near term, as Durable Goods Orders, Initial Claims and New Home Sales are all due amongst other relevant releases. “Near term rallies are indicated to terminate circa 1.2490. The short term downtrend lies at 1.2542. Key short term resistance is the 1.2600/14 zone – last weeks high and October 10 and 23 lows”, noted Karen Jones, Head of FICC Technical Analysis at Commerzbank.
EUR/USD key levels
At the moment the pair is up 0.03% at 1.2481 and a break above 1.2505 (low Nov.20) would expose 1.2560 (30-d MA) ahead of 1.2569 (high Nov.21). On the flip side, the immediate support lines up at 1.2402 (low Nov.25) followed by 1.2358 (2014 low Nov.7) and finally 1.2342 (low Aug.21 2012).
EUR/USD down from the 1.2500 area
After climbing to the 1.2500 region early in the European morning, spot deflated to test session lows around 1.2440, following the erratic mood around the greenback. Ahead in the session, the US docket will be key in determining the price action in the very near term, as Durable Goods Orders, Initial Claims and New Home Sales are all due amongst other relevant releases. “Near term rallies are indicated to terminate circa 1.2490. The short term downtrend lies at 1.2542. Key short term resistance is the 1.2600/14 zone – last weeks high and October 10 and 23 lows”, noted Karen Jones, Head of FICC Technical Analysis at Commerzbank.
EUR/USD key levels
At the moment the pair is up 0.03% at 1.2481 and a break above 1.2505 (low Nov.20) would expose 1.2560 (30-d MA) ahead of 1.2569 (high Nov.21). On the flip side, the immediate support lines up at 1.2402 (low Nov.25) followed by 1.2358 (2014 low Nov.7) and finally 1.2342 (low Aug.21 2012).