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EUR/USD shrugs off stress test headlines

FXStreet (Córdoba) - EUR/USD managed to push higher and printed fresh 2-day highs despite reports stating 25 banks will fail the stress test.

Bloomberg reportedly obtained the draft document from the European Central Bank that says 25 banks will fail and 105 will pass the test. However, EUR/USD shrugged off the news and spiked to a high of 1.2680 before losing steam. At time of writing, the pair is trading at the 1.2670 zone, recording a 0.19% gain on the day but still poised for a weekly loss.

EUR/USD technical levels


If EUR/USD breaks above the 1.2680/87 zone (intraday high/20-day SMA) next resistances could be found at 1.2700 (psychological level) and 1.2735/39 (10-week SMA/Oct 22 high). Meanwhile, supports are seen at 1.2634 (intraday low), 1.2613 (Oct 23 low),1.2600 (psychological level) and then 1.2583 (Oct 7 low).

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