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4 Dec 2014
EUR/USD back below 1.2400
FXStreet (Edinburgh) - The shared currency is now giving away part of the ECB-induced gains, dragging EUR/USD to sub-1.2400 levels.
EUR/USD trims weekly losses
The euro is managing to revert, at least today, the increasing selling pressure that has been suffering since Monday tops around 1.2500 the figure. After dropping to fresh ytd lows around the 1.2280 neighbourhood, spot picked up pace and climbed to test 1.2460 backed by the unexpected hawkish tone in the ECB meeting. However, sellers seem to be creeping back, as the ECB said it will prepare a broad-based QE package to be announced in the January meeting, sending the pair back to 1.2375/70.
EUR/USD relevant levels
As of writing the pair is up 0.64% at 1.2390 and a breakout of 1.2456 (high Dec.4) would aim for 1.2500 (psychological level) and then 1.2532 (high Nov.26). On the other hand, the immediate support aligns at 1.2279 (2014 low Dec.4) ahead of 1.2256 (low Aug.16 2012) and finally 1.2242 (low Aug.10 2012).
EUR/USD trims weekly losses
The euro is managing to revert, at least today, the increasing selling pressure that has been suffering since Monday tops around 1.2500 the figure. After dropping to fresh ytd lows around the 1.2280 neighbourhood, spot picked up pace and climbed to test 1.2460 backed by the unexpected hawkish tone in the ECB meeting. However, sellers seem to be creeping back, as the ECB said it will prepare a broad-based QE package to be announced in the January meeting, sending the pair back to 1.2375/70.
EUR/USD relevant levels
As of writing the pair is up 0.64% at 1.2390 and a breakout of 1.2456 (high Dec.4) would aim for 1.2500 (psychological level) and then 1.2532 (high Nov.26). On the other hand, the immediate support aligns at 1.2279 (2014 low Dec.4) ahead of 1.2256 (low Aug.16 2012) and finally 1.2242 (low Aug.10 2012).