12 Dec 2014
EUR/USD retests 1.24 handle
FXStreet (MUmbai) - The Euro trades modestly flat against the US dollar in the Asian morning, as markets await Euro zone industrial production data later today.
The EUR/USD pair trades almost unchanged at 1.2398 levels, after having clocking a high above 1.24 levels. The Euro traded lower against the US dollar after solid US retail sales data supported the greenback. The EUR/USD pair also remains under pressure as traders digest the consequences of the latest round of TLTROs on future monetary policy.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.2416 (50-day SMA) levels, above which gains could be extended to 1.2449 (Dec 10 High) levels. On the flip side, support is seen at 1.2372 (100-day SMA) levels, below which it could extend losses to 1.2357 (Nov 7 Low) levels.
The EUR/USD pair trades almost unchanged at 1.2398 levels, after having clocking a high above 1.24 levels. The Euro traded lower against the US dollar after solid US retail sales data supported the greenback. The EUR/USD pair also remains under pressure as traders digest the consequences of the latest round of TLTROs on future monetary policy.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.2416 (50-day SMA) levels, above which gains could be extended to 1.2449 (Dec 10 High) levels. On the flip side, support is seen at 1.2372 (100-day SMA) levels, below which it could extend losses to 1.2357 (Nov 7 Low) levels.