9 Dec 2014
EUR/USD hovers around 1.23 levels
FXStreet (Mumbai) - The common currency trades lower in the early Asian hours, after having recovered moderately against the US dollar in the previous session.
The EUR/USD pair trades almost flat at 1.2298 levels, after clocking a high of 1.2315, at time of writing. The Euro traded higher against the greenback in the US session as the dollar drifted after the US Labour Market Conditions Index came out at 2.9, below the previous month's reading of 4.
Markets will now shift their attention towards a string of data from Germany and ECB’s Nowotny’s speech due later in the day.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.2308 (5-day SMA) levels, above which gains could be extended to 1.2327 (100-day SMA) levels. On the flip side, support is seen at 1.2282 (Dec 7 Low) level, below which it could extend losses to 1.2245 (Dec 8 Low) levels.
The EUR/USD pair trades almost flat at 1.2298 levels, after clocking a high of 1.2315, at time of writing. The Euro traded higher against the greenback in the US session as the dollar drifted after the US Labour Market Conditions Index came out at 2.9, below the previous month's reading of 4.
Markets will now shift their attention towards a string of data from Germany and ECB’s Nowotny’s speech due later in the day.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.2308 (5-day SMA) levels, above which gains could be extended to 1.2327 (100-day SMA) levels. On the flip side, support is seen at 1.2282 (Dec 7 Low) level, below which it could extend losses to 1.2245 (Dec 8 Low) levels.