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4 Dec 2014
EUR/USD rebounds to 1.2320
FXStreet (Edinburgh) - The common currency seems to have woken up now, pushing EUR/USD to test session highs in the 1.2320/25 band.
EUR/USD on a better mood, USD takes a breather
It seems the greenback is pausing its furious upside now, allowing spot to recover some of the recent ground lost and re-visiting the area of 1.2320 ahead of the ECB meeting due later. Market opinions remain quite divided regarding the announcement of further easing measures by the European Central Bank today, although it is almost vox populi that Draghi will try to keep the EUR at current or lower levels. Once the ECB gathering passes today and regardless of the outcome, the next critical test for the pair will be tomorrow’s US Payrolls, with bets around 232K for the month of November.
EUR/USD levels to watch
As of writing the pair is up 0.07% at 1.2318 and , a breakout of 1.2390 (high Dec.3) would open the door to 1.2419 (low Dec.1) and then 1.2449 (21-d MA). On the other hand, the immediate support aligns at 1.2288 (low Aug.17 2012) ahead of 1.2256 (low Aug.16 2012) and finally 1.2242 (low Aug.10 2012).
EUR/USD on a better mood, USD takes a breather
It seems the greenback is pausing its furious upside now, allowing spot to recover some of the recent ground lost and re-visiting the area of 1.2320 ahead of the ECB meeting due later. Market opinions remain quite divided regarding the announcement of further easing measures by the European Central Bank today, although it is almost vox populi that Draghi will try to keep the EUR at current or lower levels. Once the ECB gathering passes today and regardless of the outcome, the next critical test for the pair will be tomorrow’s US Payrolls, with bets around 232K for the month of November.
EUR/USD levels to watch
As of writing the pair is up 0.07% at 1.2318 and , a breakout of 1.2390 (high Dec.3) would open the door to 1.2419 (low Dec.1) and then 1.2449 (21-d MA). On the other hand, the immediate support aligns at 1.2288 (low Aug.17 2012) ahead of 1.2256 (low Aug.16 2012) and finally 1.2242 (low Aug.10 2012).