9 Jan 2015
EUR/USD erases losses and climbs to fresh daily highs
FXStreet (Córdoba) - The euro managed to reverse early losses against the dollar and climbed to fresh daily highs during the American session as despite US nonfarm payrolls headline numbers were better than expected, wage growth decelerated.
The dollar weakened in the aftermath and retreated across the board after the knee-jerk moves. EUR/USD climbed to a high of 1.1836 and it is currently trading at 1.1830, recording a 0.37% gain on Friday. EUR/USD however, is on track to post its fourth weekly loss in a row.
The shared currency remain vulnerable amid expectations a QE program could be announced by the ECB later this month. Meanwhile, political uncertainty in Greece is also keeping the euro under pressure.
EUR/USD levels to watch
On the upside, next resistances are seen at 1.1846 (Jan 8 high), 1.1859 (100-day SMA) and 1.1895 (Jan 7 high), while on the downside, supports could be found at 1.1753 (Jan 8 low), 1.1705/00 (Dec 7 & 8 2005 lows/psychological level) and 1.1688 (Dec 5 2005 low).
The dollar weakened in the aftermath and retreated across the board after the knee-jerk moves. EUR/USD climbed to a high of 1.1836 and it is currently trading at 1.1830, recording a 0.37% gain on Friday. EUR/USD however, is on track to post its fourth weekly loss in a row.
The shared currency remain vulnerable amid expectations a QE program could be announced by the ECB later this month. Meanwhile, political uncertainty in Greece is also keeping the euro under pressure.
EUR/USD levels to watch
On the upside, next resistances are seen at 1.1846 (Jan 8 high), 1.1859 (100-day SMA) and 1.1895 (Jan 7 high), while on the downside, supports could be found at 1.1753 (Jan 8 low), 1.1705/00 (Dec 7 & 8 2005 lows/psychological level) and 1.1688 (Dec 5 2005 low).