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EUR/USD tailing off but support holding

FXStreet (Barcelona) - EUR/USD is trading at 1.2819, down -0.14% on the day, having posted a daily high at 1.2840 and low at 1.2808.

EUR/USD has reached supply again at the 1.2840/50 region despite the spike on the knee jerk in the US session to the high close to 1.2890. The market is in consolidation mode on the change over having been highly volatile with stocks in the US plummeting and US data disappointing. Panic was the theme with wild swings. The main action when the pair was bid from 1.2640 until meeting supply at 1.2800 with a spike up to 1.2887 as the high of the day.

EUR/USD noteworthy levels

Current price is 1.2821, with resistance ahead at 1.2867 (Daily Classic R3), 1.2927 (Weekly Classic R2) and 1.2960. Next support to the downside can be found at 1.2800, 1.2778 (Weekly Classic R1), 1.2751 (Weekly High), 1.2743 (Daily 20 SMA) and 1.2738 (Daily Classic R1).

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