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11 Dec 2014
EUR/USD hovers below 1.2400
FXStreet (Córdoba) - EUR/USD extended its pullback below the 1.2400 level during the New York session and fell to test the 1.2370 support area, as the greenback picked up momentum following better-than-expected US retail sales and jobless claims numbers.
The decline however, was contained by 1.2370, where the 50% Fibo of 1.2247/1.2494 and the 200-hour SMA converge. At time of writing, EUR/USD is trading at the 1.2395 zone, recording a 0.42% loss on the day.
EUR/USD levels to watch
On the downside, next supports are now seen at 1.2370 (50% Fibo of 1.2247/1.2494/200-hour SMA) and 1.2360 (Dec 10 low) and 1.2341 (61.8% Fibo of 1.2247/1.2494). On the upside, if EUR/USD regains 1.2400, next resistances could be found at 1.2494 (daily high) and 1.2506 (Dec 1 high).
The decline however, was contained by 1.2370, where the 50% Fibo of 1.2247/1.2494 and the 200-hour SMA converge. At time of writing, EUR/USD is trading at the 1.2395 zone, recording a 0.42% loss on the day.
EUR/USD levels to watch
On the downside, next supports are now seen at 1.2370 (50% Fibo of 1.2247/1.2494/200-hour SMA) and 1.2360 (Dec 10 low) and 1.2341 (61.8% Fibo of 1.2247/1.2494). On the upside, if EUR/USD regains 1.2400, next resistances could be found at 1.2494 (daily high) and 1.2506 (Dec 1 high).