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EUR/USD makes fresh weekly lows

FXStreet (Córdoba) - EUR/USD faced another wave of selling following the release of US CPI, which was slightly above forecast supporting the greenback across the board, although still below Fed's target.

EUR/USD resumed the downward path and hit stretched to its lowest level in a week at 1.2654 in recent dealings. At time of writing, EUR/USD is trading at the 1.2660 zone, recording a 0.43% loss on the day. The shared currency was already under pressure Wednesday, extending losses into a second day, amid concerns about the results of Eurozone bank stress tests. The euro had been hurt the previous day by talks the ECB could purchase corporate bonds.

EUR/USD technical levels

As for technical levels, if EUR/USD breaks below the 1.2655 zone, next supports are seen at 1.2623 (Oct 15 low) and 1.2600 (psychological level). On the other hand, resistances could be found at 1.2739 (intraday high), 1.2800 (psychological level), 1.2839 (Oct 21 high), and 1.2882 (Oct 15 high).

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