23 Dec 2014
EUR/USD: selloff extends to fresh 2014 lows
FXStreet (Córdoba) - EUR/USD extended its decline and hit fresh 2 ½-year lows following a series of US data, as even though its was mixed, overall it was encouraging for the dollar.
EUR/USD broke below the 1.22 mark after US GDP grew posted its strongest pace in 11 years, and continued to move down to a low of 1.2164, last seen August 2012. However, sellers were unconvinced of taking the euro lower, for now, allowing a slight bounce. At time of writing, the pair is trading at 1.2175, recording a 0.44% loss Tuesday.
EUR/USD technical levels
On the downside, immediate supports are seen at 1.2133 (Aug 2 2012 low) and 1.2100 (psychological level). On the upside, next resistances could be found at 1.2245 (daily high) and 1.2271 (Dec 22 high).
EUR/USD broke below the 1.22 mark after US GDP grew posted its strongest pace in 11 years, and continued to move down to a low of 1.2164, last seen August 2012. However, sellers were unconvinced of taking the euro lower, for now, allowing a slight bounce. At time of writing, the pair is trading at 1.2175, recording a 0.44% loss Tuesday.
EUR/USD technical levels
On the downside, immediate supports are seen at 1.2133 (Aug 2 2012 low) and 1.2100 (psychological level). On the upside, next resistances could be found at 1.2245 (daily high) and 1.2271 (Dec 22 high).