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EUR/USD consolidates the dramas of the upside

FXStreet (Guatemala) - EUR/USD is trading at 1.2784, up 1.00% on the day, having posted a daily high at 1.2887 and low at 1.2625.

Overall wage growth has been modest as reported by the Fed members as a critical component towards end of year outlook in the US economy while a speech from Draghi gave us little extra in the way of insight that was previously exposed from ongoing chat and the pair remains in consolidation after a major run on the greenback that took the pair up to test September’s congestion at the psychological 1.2900 level.

EUR/USD noteworthy levels

Current price is 1.2785, with resistance ahead at 1.2818 (Daily Classic R2), 1.2867 (Daily Classic R3), 1.2927 (Weekly Classic R2) and 1.2960. Next support to the downside can be found at 1.2778 (Weekly Classic R1), 1.2751 (Weekly High), 1.2743 (Daily 20 SMA) and 1.2738 (Daily Classic R1).

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