19 Dec 2014
EUR/USD erases daily losses
FXStreet (Córdoba) - EUR/USD reversed intraday losses and climbed back to the upper-side of its daily range as the dollar weakened across the board at the beginning of the American session.
EUR/USD bottomed out at 1.2252, just a few pips above its 2014 low, and bounced toward the 1.2295 zone. However, the euro has lacked follow-through to break decisively above 1.2300. At time of writing, EUR/USD is trading at 1.2293, virtually unchanged on the day.
“It’s very unlikely that we see any real push to break the current ranges but there might be some squaring off during the US session as a lot of people will be packing up today for the holidays”, said Ryan Littlestone, editor at ForexLive.
EUR/USD levels to watch
As for technical levels, if EUR/USD does break above 1.2300, next resistances are seen at 1.2351 (Dec 18 high) and 1.2385 (10-day SMA). On the other hand, supports could be found at 1.2252 (daily low), 1.2247 (2014 low Dec 8 low) and 1.2200 (psychological level).
EUR/USD bottomed out at 1.2252, just a few pips above its 2014 low, and bounced toward the 1.2295 zone. However, the euro has lacked follow-through to break decisively above 1.2300. At time of writing, EUR/USD is trading at 1.2293, virtually unchanged on the day.
“It’s very unlikely that we see any real push to break the current ranges but there might be some squaring off during the US session as a lot of people will be packing up today for the holidays”, said Ryan Littlestone, editor at ForexLive.
EUR/USD levels to watch
As for technical levels, if EUR/USD does break above 1.2300, next resistances are seen at 1.2351 (Dec 18 high) and 1.2385 (10-day SMA). On the other hand, supports could be found at 1.2252 (daily low), 1.2247 (2014 low Dec 8 low) and 1.2200 (psychological level).