18 Dec 2014
EUR/USD hovers near 8-day low
FXStreet (Mumbai) - The EUR/USD pair saw a minor bounce after the weaker-than-expected PMI data in the US, although the pair still hovers around the 8-day low of 1.2290
The pair now trades 0.49% lower at 1.2283 levels, after having recovered slightly from the low of 1.2266 hit post the US weekly jobless claims data. A minor bounce in the pair was mainly driven by the preliminary Markit Services PMI data for December, which printed at 53.6, missing the median estimate of 56.3, and down from the previous month’s print of 56.2. Meanwhile, the Philadelphia fed index also printed weaker-than-expected at 24.5.
EUR/USD Technical Levels
The pair has an immediate support at the daily low of 1.2263, under which prices may fall to 20 month SMA located at 1.2224. Meanwhile, immediate resistance is seen at 1.23 and 1.2338 levels.
The pair now trades 0.49% lower at 1.2283 levels, after having recovered slightly from the low of 1.2266 hit post the US weekly jobless claims data. A minor bounce in the pair was mainly driven by the preliminary Markit Services PMI data for December, which printed at 53.6, missing the median estimate of 56.3, and down from the previous month’s print of 56.2. Meanwhile, the Philadelphia fed index also printed weaker-than-expected at 24.5.
EUR/USD Technical Levels
The pair has an immediate support at the daily low of 1.2263, under which prices may fall to 20 month SMA located at 1.2224. Meanwhile, immediate resistance is seen at 1.23 and 1.2338 levels.