OctaFX | OctaFX Forex Broker
Open trading account
Back

EUR/USD consolidates below 1.2500

FXStreet (Córdoba) - EUR/USD stretched to a fresh daily low following below forecast ISM non-manufacturing PMI, but bears lacked determination to push the pair much lower, and quickly returned to pre-data levels.

Investors seem unwilling to take big positions ahead of the European Central Bank decision Thursday and the US nonfarm payrolls report Friday. While the ECB is expected to remain on hold, US is expected to report a 231K job gain.

EUR/USD is currently trading at the 1.2475 zone, 0.55% below its opening price. The pair was rejected by the 1.25750 zone yesterday and resumed the downside amid broad USD strength and disappointing Eurozone data, having made a low of 1.2456 so far today.

EUR/USD levels to watch


As for technical levels, EUR/USD could find immediate supports at 1.2456 (Nov 5 low), 1.2439 (2014 low Nov 3) and 1.2400 (psychological level). On the other hand, resistances are seen at 1.2576 (Nov 4 high), 1.2600 (psychological level/10-day SMA) and 1.2616 (Oct 31 high).

GBP/USD recovery finds resistance below 1.6000

GBP/USD rose further after Wall Street opening bell and reached 1.5993, the highest price since the beginning of the European session.
Read more Previous

EUR/JPY bulls riding bank divergences and risk sentiments

EUR/JPY is trading at 143.03, up 0.30% on the day, having posted a daily high at 143.47 and low at 142.36.
Read more Next
Start livechat