1 Dec 2014
EUR/USD loses momentum ahead of 1.2500
FXStreet (Córdoba) - EUR/USD inched higher at the beginning of the New York session and made a marginal new high for the day, but lacked momentum to break above the 1.2490/1.2500 resistance area.
EUR/USD managed to reverse early losses as USD weakness over offset disappointing figures from Eurozone PMIs. EUR/USD reached a high of 1.24857 but stalled a few pips shy of Friday's highs. At time of writing, the pair is trading at 1.2480, up 0.28% on the day.
EUR/USD levels to watch
As for technical levels, if EUR/USD breaks above 1.2500, next resistances are seen at 1.2523 (Nov 27 high) and 1.2567 (Nov 21 high). On the flip side, supports could be found at 1.2419 (daily low), 1.2400 (psychological level) and 1.2360 (Nov 24 low).
EUR/USD managed to reverse early losses as USD weakness over offset disappointing figures from Eurozone PMIs. EUR/USD reached a high of 1.24857 but stalled a few pips shy of Friday's highs. At time of writing, the pair is trading at 1.2480, up 0.28% on the day.
EUR/USD levels to watch
As for technical levels, if EUR/USD breaks above 1.2500, next resistances are seen at 1.2523 (Nov 27 high) and 1.2567 (Nov 21 high). On the flip side, supports could be found at 1.2419 (daily low), 1.2400 (psychological level) and 1.2360 (Nov 24 low).