5 Dec 2014
EUR/USD clings to 1.2300
FXStreet (Edinburgh) - After a brief visit to ytd lows around 1.2280, EUR/USD quickly regained the 1.2300 handle following the strong labour report from the US economy.
EUR/USD supported at 1.2280
The recent multi-year lows in the 1.2280 neighbourhood acted as a good buffer against the wave of sell orders after the US Payrolls surprised markets to the upside, adding 321K jobs during November, leaving behind the forecasts at 230K. Despite the positive results, spot is managing quite well to keep the business at or above 1.2300 the figure so far, ahead of further data from US Factory Orders and Consumer Credit Change, and speeches by FOMC ‘s Mester and Fed’s Fischer.
EUR/USD levels to watch
At the moment the pair is retreating 0.66% at 1.2301 with the next support at 1.2280 (2014 low Dec.4) ahead of 1.2256 (low Aug.16 2012) and finally 1.2242 (low Aug.10 2012). On the upside, a breakout of 1.2426 (10-d MA) would expose 1.2453 (21-d MA) and then 1.2476 (high Dec.2).
EUR/USD supported at 1.2280
The recent multi-year lows in the 1.2280 neighbourhood acted as a good buffer against the wave of sell orders after the US Payrolls surprised markets to the upside, adding 321K jobs during November, leaving behind the forecasts at 230K. Despite the positive results, spot is managing quite well to keep the business at or above 1.2300 the figure so far, ahead of further data from US Factory Orders and Consumer Credit Change, and speeches by FOMC ‘s Mester and Fed’s Fischer.
EUR/USD levels to watch
At the moment the pair is retreating 0.66% at 1.2301 with the next support at 1.2280 (2014 low Dec.4) ahead of 1.2256 (low Aug.16 2012) and finally 1.2242 (low Aug.10 2012). On the upside, a breakout of 1.2426 (10-d MA) would expose 1.2453 (21-d MA) and then 1.2476 (high Dec.2).