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EUR/USD eases to 1.2750

FXStreet (Edinburgh) - After an unsuccessful attempt to break above 1.2780 on a sustainable basis, EUR/USD is now losing the grip to the 1.2755/50 area.

EUR/USD looks to the risk trends

Absent a relevant docket in the euro bloc and the US economy, spot’s price action continues to hinge on the risk appetite mood, meandering between 1.276- and 1.2780 so far. “In line with expectations, EUR failed near the strong resistant indicated at 1.2845/50 last Friday (high of 1.2835). The subsequent drop from the high appears incomplete and the current down move is expected towards 1.2705/10. Expect any rebound to hold below 1.2800”.

EUR/USD levels to watch

As of writing the pair is losing 0.01% and a break below 1.2740 (hourly triangle) would aim for 1.2732 (10-d MA) and then 1.2715 (21-d MA). On the flip side, the immediate resistance aligns at 1.2845 (high Oct.16) followed by 1.2853 (23.6% of 1.3995-1.2501) and finally 1.2887 (high Oct.15)

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