18 Dec 2014
EUR/USD trades near 1-week lows, German data in focus
FXStreet (Mumbai) - The Euro edged lower against the US dollar and trades close to one week low of 1.2320 levels posted in the previous session.
The EUR/USD pair traded now at 1.2326 levels, down -0.15% on the day, after jumping over 1% overnight after the FOMC statement. The Euro traded lower against the US dollar as markets shift their attention towards European Central Bank (ECB) President Draghi’s comments at a 2-day EU Economic Summit commencing today. Markets also remain wary ahead of Germany’s Business Climate print to be released later during the mid-European session.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.2343 (5-day SMA) levels, above which gains could be extended to 1.2376 (20-day SMA) levels. On the flip side, support is seen at 1.2320 (Dec 17 Low) levels, below which it could extend losses to 1.2291 (Dec 9 Low) levels.
The EUR/USD pair traded now at 1.2326 levels, down -0.15% on the day, after jumping over 1% overnight after the FOMC statement. The Euro traded lower against the US dollar as markets shift their attention towards European Central Bank (ECB) President Draghi’s comments at a 2-day EU Economic Summit commencing today. Markets also remain wary ahead of Germany’s Business Climate print to be released later during the mid-European session.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.2343 (5-day SMA) levels, above which gains could be extended to 1.2376 (20-day SMA) levels. On the flip side, support is seen at 1.2320 (Dec 17 Low) levels, below which it could extend losses to 1.2291 (Dec 9 Low) levels.