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EUR/USD fails to sustain 1.2600 after Fed minutes

FXStreet (Córdoba) - EUR/USD jumped to the 1.2600 area, seconds before the release of the FOMC latest meeting minutes, but failed to sustain the move and quickly pulled back to pre-minutes levels around 1.2560.

Minutes of the October 28-29 Fed meeting
showed members debated what language to use about the pace of coming rate hikes.

At time of writing, EUR/USD is trading at 1.2565, 0.24% above its opening price, having hit a peak of 1.2599 just before the release.

EUR/USD levels to watch

As for technical levels, EUR/USD could find immediate resistances at 1.2600 (psychological level) and 1.2616 (Oct 16 high). On the other hand, supports are seen at 1.2511 (Nov 19 low), 1.2470 (10-day SMA) and 1.2442 (Nov 18 low).

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