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EUR/USD down to 1.2470 amid industrial production and Draghi

FXStreet (San Francisco) - The EUR/USD failed to win the 1.2500 level and following the industrial production and Mario Draghi's comments on ECB steps, the Euro lost ground to trade at 1.2470 against the dollar.

The US industrial production rose 0.2% in October while the capacity utilized declined to 78.9, below expectations.

Mario Draghi commented that risk to outlook continues to downside; however, there are early signs credit package delivering results.

Currently, EUR/USD is trading at 1.2476, down -0.39% on the day, having posted a daily high at 1.2578 and low at 1.2472. The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bearish.

EUR/USD levels

If the pair successfully extends decline below 1.2470, it will find next supports at 1.2440 and 1.2400. To the upside, resistances are at 1.2500, 1.2545 and 1.2575.

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