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EUR/USD surrenders daily gains, hits fresh lows

FXStreet (Córdoba) - EUR/USD extended its pullback from daily highs and turned intraday negative, as the pair came under pressure after failing to hold above 1.2500.

In the absence of economic data, EUR/USD resumed its broader decline and fell back to the lower 1.24 zone after staging a mild bounce underpinned by profit taking. EUR/USD is currently trading at the 1.2425 zone, 0.25% lower on the day and not far from its cycle low of 1.2357 scored Friday.

EUR/USD technical levels

In terms of technical levels, EUR/USD could find immediate supports at 1.2420 (daily low), 1.2400 (psychological level) and then 1.2357 (2014 low Nov). On the other hand, resistances are seen at 1.2508 (daily high), 1.2532 (10-day SMA/Nov 6 high) and 1.2566 (Nov 5 high).

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