22 Dec 2014
EUR/USD recovers, hits fresh daily high
FXStreet (Mumbai) - The Euro recovered from 2-year lows hit in the previous session and trades higher against the US dollar, losing over 1.5% in the week ended Dec 19.
Currently, the EUR/USD pair hit fresh daily high of 1.2249 levels, up 0.17% on the day, after falling to two–year low of 1.2219 levels. The single currency lost ground versus the US dollar after Federal Reserve signalled to that it’s on track to raise the borrowing rates sometime in 2015 and also an improving US economy picture added to the downside in the Euro.
In the week ahead, the Euro may remain exposed to downside risk over growing global uncertainties over Greece and Ukraine, as traders may remain on the sidelines in this Christmas holiday week.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.2305 (Dec 19 High) levels, above which gains could be extended to 1.2344 (Dec 8 High) levels. On the flip side, support is seen at 1.2219 (Dec 19 Low) levels, below which it could extend losses to 1.2180 (2012) levels.
Currently, the EUR/USD pair hit fresh daily high of 1.2249 levels, up 0.17% on the day, after falling to two–year low of 1.2219 levels. The single currency lost ground versus the US dollar after Federal Reserve signalled to that it’s on track to raise the borrowing rates sometime in 2015 and also an improving US economy picture added to the downside in the Euro.
In the week ahead, the Euro may remain exposed to downside risk over growing global uncertainties over Greece and Ukraine, as traders may remain on the sidelines in this Christmas holiday week.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.2305 (Dec 19 High) levels, above which gains could be extended to 1.2344 (Dec 8 High) levels. On the flip side, support is seen at 1.2219 (Dec 19 Low) levels, below which it could extend losses to 1.2180 (2012) levels.