OctaFX | OctaFX Forex Broker
Open trading account
Back

EUR/USD climbed to 1.2450 on data

FXStreet (Edinburgh) - The single currency managed to bounce off session lows in sub-1.2430 levels on Friday, lifting EUR/USD back to the 1.2450 area.

EUR/USD supported at 1.2430

The strong buying interest around the greenback is hurting the riskier assets at the end of the trading week, with spot coming down from overnight tops near 1.2470. Better results from advanced French and German GDP figures during the third quarter pushed the pair to the mid-1.2400s although the bull run quickly lost vigour. Key EMU’s CPI and GDP data are due newt, with consensus expecting consumer prices to have increased 0.4% on a yearly basis and the economy to have expanded 0.7% YoY.

EUR/USD key levels

At the moment the pair is losing 0.35% at 1.2434 with the next support at 1.2419 (low Nov.12) ahead of 1.2394 (low Nov.11) and then 1.2358 (low Nov.7). On the flip side, a breakout of 1.2499 (high Nov.11) would expose 1.2509 (high Nov.10) and finally 1.2533 (high Nov.6).

US economy growing at an above trend pace - NAB

Tony Kelly, Economist at National Australia Bank sees strong job growth in the US as the catalyst for the increase in pace of economic growth.
Read more Previous

Oil takes another dive – Danske

Research Analysts at Danske comment that Oil prices took another dive yesterday with Brent for January settlement falling almost 4% to below USD78 per barrel.
Read more Next
Start livechat