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EUR/USD retreats further, erases gains

FXStreet (Córdoba) - EUR/USD came under renewed pressure at the beginning of the New York session, as the dollar gained pace across the board, and erased intraday gains.

EUR/USD failed to overcome the 1.2675 resistance area and it was dragged by a stronger dollar to the 1.2630 zone in recent dealings, despite a mildly soft series of US economic data and an improvement in Eurozone consumer confidence. At time of writing, the pair is trading at 1.2643, little changed on the day.

EUR/USD levels to watch


In terms of technical levels, EUR/USD could find next supports at 1.2613 (Oct 23 low), 1.2600 (psychological level) and 1.2583 (Oct 7 low). On the flip, resistances are seen at 1.2675 (Oct 23 high), 1.2690 (20-day SMA) and 1.2739 (Oct 22 high).

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