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EUR/USD unchanged near 1.2420

FXStreet (Edinburgh) - The shared currency is trading almost unchanged vs. the greenback on Tuesday, with EUR/USD hovering over 1.2420/15.

EUR/USD unmotivated, back from beyond 1.2500

The inactivity in the US markets plus the lack of data releases in the euro area will surely leave spot to extend its sideline pattern just above 1.2400 the figure today. In quite an apathetic Monday session, the pair managed to rebound to the 1.2520 neighbourhood, although the bullish attempt run out of legs soon afterwards and initiated the current correction to the low 1.2400s.

EUR/USD levels to watch

The pair is now flat at 1.2421 with the next resistance at 1.2509 (high Nov.10) followed by 1.2527 (10-d MA) and then 1.2533 (high Nov.6). On the flip side, a break below 1.2358 (low Nov.7) would expose 1.2342 (low Aug.21 2012) and then 1.2295 (low Aug.20 2012).

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