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EUR/USD – first attempt above 1.25 failed

FXStreet (Moscow) - EUR/USD made an attempt to settle above 1.25 in early Europe, but was pushed back to current 1.2486 by sellers.

The pair came under pressure during Asian trades on the ECB meeting positioning. The move down to new 2-year low was helped by holidays in Japan cutting the overall market liquidity. Now the pair is trying to recover at least to 1.25 handle, trading at 1.2490 currently. Today is the day of manufacturing data, and it has the potential to recover part of the euro losses, provided better than expected German PMI data. The preliminary report showed the index came back above 50-point waterline indicating the growth in the sector. If the readings confirmed, it may revive the hopes the largest European economy has already overcome the worst period of its cycle, and may help the pair to target the nearest resistance located around 1.2543.

What are today’s key EUR/USD levels?

Today's central pivot point can be found at 1.2543, with support below at 1.2468, 1.2411 and 1.2336, with resistance above at 1.2600, 1.2675 and 1.2732. Hourly Moving Averages are bearish, with the 200SMA bearish at 1.2658 and the daily 20EMA bearish at 1.2692. Hourly RSI is bearish at 37.

EUR/USD trading weak today at 1.2485 levels - FXStreet

FXStreet Editor and Analyst Omkar Godbole points out that after closing the week at 1.2525 levels EUR/USD is trading lower on Monday near 1.2485.
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