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EUR/USD attempts to climb above 1.2500

FXStreet (San Francisco) - The euro is attempting to recover some ground against the US Dollar following a weaker than expected NY Empire Manufacturing index in October. The EUR/USD rose 20 pips in the last few minutes from 1.2485 to trade above 1.2500.

The NY Empire Manufacturing Index bounced in October to 10.16 from 6.17 in September. However, the data was less than the 11.00 expected.

Earlier in the day, the EUR/USD extended its rejection of the 1.2575 area to trade at the 200-hour MA at 1.2485 where the pair found buying interest. Currently, EUR/USD is trading at 1.2501, down 0.21% on the day, having posted a daily high at 1.2575 and low at 1.2480.

The hourly FXStreet OB/OS Index is showing oversold conditions, alongside the FXStreet Trend Index which is slightly bearish.

EUR/USD levels

If the pair breaks above 1.2500, it will find next resistances at 1.2545 and 1.2575. To the downside, supports are at 1.2485, 1.2542 and 1.2400.

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