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EUR/USD back to 1.2540

FXStreet (Edinburgh) - The single currency is giving away initial gains at the end of the Asian session on Monday, dragging EUR/USD back to the 1.2540/35 band.

EUR/USD survives above 1.2500

The pair is looking to consolidate Friday’s break above 1.2500 the figure, now easing some ground after overnight peaks around 1.2580. The G20 meeting left nothing worth of notice for the euro region, with spot following the better sentiment around the risk appetite as the main catalyst. Data wise in the euro area, trade balance figures in Italy, Spain and the UME are due ahead of the more relevant speech by ECB’s M.Draghi. Across the Atlantic, the Empire State index, Industrial Production and Capacity Utilization will be the main highlights.

EUR/USD key levels

At the moment the pair is up 0.06% at 1.2534 with the next resistance at 1.2580 (hourly high Nov.17) ahead of 1.2591 (hourly high Oct.31) and then 1.2614 (low Oct.23). On the flip side, a breach of 1.2514 (hourly low Nov.17) would expose 1.2474 (10-d MA) and finally 1.2459 (200-h MA).

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