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EUR/USD falters ahead of 1.2550

FXStreet (Córdoba) - EUR/USD moved off daily highs and gave up ground, weighed by cross action and a strong drop in Eurozone construction output.

Eurozone construction declined 1.8% in September from August, and a 1.7% from a year earlier. EUR/USD backed away from daily highs but it continues to clinch above 1.2500 ahead of FOMC minutes to be published at 19:00 GMT. The shared currency hit an hourly low of 1.2523 in recent dealings, and it is currently trading at 1.2538, virtually unchanged on the day.

EUR/USD levels to watch

In terms of technical levels, immediate resistances could be found at 1.2576 (Nov 17 high), 1.2600 (psychological level) and 1.2616 (Oct 31 high). On the flip side, supports are seen at 1.2511 (Nov 19 low), 1.2467 (10-day SMA) and 1.2442 (Nov 18 low).

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