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EUR/USD wavers above 1.2500

FXStreet (Córdoba) - EUR/USD continues to oscillate up and down in a slim range above 1.2500, as players remain cautious ahead of the Fed minutes tomorrow.

EUR/USD climbed to a daily high of 1.2540, underpinned by German ZEW survey, but found resistance at the 20-day SMA and was confined to a phase of consolidation in a tight range. EUR/USD was barely affected by the release of US PPI and second-tier data, having spent the last hours within 1.2500 and 1.2540.

EUR/USD is currently trading at 1.2520, up 0.58% on the day, and having recovered most of yesterday drop.

EUR/USD levels to watch

In terms of technical levels, EUR/USD could find immediate resistances at 1.2540 (20-day SMA/Nov 18 high), 1.2576 (Nov 17 high) and 1.2600 (psychological level). On the flip side, supports are seen at 1.2495 (50-hour SMA), 1.2442 (Nov 18 low) and 1.2400/1.2398 (psychological level/Nov 14 low).

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