3 Dec 2014
EUR/USD supported around 1.2320
FXStreet (Edinburgh) - The intraday decline of EUR/USD seems to have found decent support in the area of recent lows around 1.2325/20 so far.
EUR/USD softer on data
Less auspicious PMIs from both manufacturing and services sectors in Euroland and the disappointment from EMU’s retail sales in October continue to weigh on the EUR, confining the pair to trade in levels last seen over two years ago in the 1.2320 neighbpurhood. Nothing further is expected in the euro region in the data front, however the US ADP report (221K exp.) and the ISM Non Manufacturing (57.5 exp.) carry the potential to influence on the pair ahead of the Fed’s Beige Book.
EUR/USD levels to watch
At the moment the pair is losing 0.37% at 1.2334 and a break below 1.2295 (low Aug.20 2012) would aim for 1.2288 (low Aug.17 2012) and then 1.2256 (low Aug.16 2012). On the flip side, the immediate hurdle lines up at 1.2419 (low Dec.1) ahead of 1.2449 (10-d MA) and finally 1.2476 (high Dec.2).
EUR/USD softer on data
Less auspicious PMIs from both manufacturing and services sectors in Euroland and the disappointment from EMU’s retail sales in October continue to weigh on the EUR, confining the pair to trade in levels last seen over two years ago in the 1.2320 neighbpurhood. Nothing further is expected in the euro region in the data front, however the US ADP report (221K exp.) and the ISM Non Manufacturing (57.5 exp.) carry the potential to influence on the pair ahead of the Fed’s Beige Book.
EUR/USD levels to watch
At the moment the pair is losing 0.37% at 1.2334 and a break below 1.2295 (low Aug.20 2012) would aim for 1.2288 (low Aug.17 2012) and then 1.2256 (low Aug.16 2012). On the flip side, the immediate hurdle lines up at 1.2419 (low Dec.1) ahead of 1.2449 (10-d MA) and finally 1.2476 (high Dec.2).