1 Dec 2014
EUR/USD retreats from highs
FXStreet (Edinburgh) - The shared currency is back to the mid-1.2400s after EUR/USD briefly climbed to session tops beyond 1.2470.
EUR/USD bounces off 1.2420
The final manufacturing prints by Markit for the month of November came in on the softer side today, with the only exception of the French reading, surpassing estimates. Spot tested session highs near 1.2480, although the spike probed to be ephemeral, returning to the 1.2460/50 band. Nothing else in the data front is expected in the euro area, whereas ISM Manufacturing and Markit’s Manufacturing PMI will be released in the US economy later on in the NA session.
EUR/USD relevant levels
At the moment the pair is advancing 0.12% at 1.2455 with the next resistance at 1.2532 (high Nov.26) ahead of 1.2550 (30-d MA) and finally 1.2569 (high Nov.21). On the downside, a breach of 1.2402 (low Nov.25) would expose 1.2358 (2014 low Nov.7) and then 1.2342 (low Aug.21 2012).
EUR/USD bounces off 1.2420
The final manufacturing prints by Markit for the month of November came in on the softer side today, with the only exception of the French reading, surpassing estimates. Spot tested session highs near 1.2480, although the spike probed to be ephemeral, returning to the 1.2460/50 band. Nothing else in the data front is expected in the euro area, whereas ISM Manufacturing and Markit’s Manufacturing PMI will be released in the US economy later on in the NA session.
EUR/USD relevant levels
At the moment the pair is advancing 0.12% at 1.2455 with the next resistance at 1.2532 (high Nov.26) ahead of 1.2550 (30-d MA) and finally 1.2569 (high Nov.21). On the downside, a breach of 1.2402 (low Nov.25) would expose 1.2358 (2014 low Nov.7) and then 1.2342 (low Aug.21 2012).