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EUR/USD back to square one

FXStreet (Córdoba) - EUR/USD continues to waver without clear short-term direction, driven by economic releases throughout the day.

Earlier on the day, disappointing Eurozone PMIs hit the euro, while on the other side of the Atlantic, data came in mainly in line with expectations. Overall, EUR/USD has traded within 1.2500 and 1.2575, unable to breakout the range. At time of writing, the pair is trading at 1.2550, virtually unchanged on the day.

EUR/USD levels to watch

In terms of technical levels, EUR/USD could find immediate resistances at 1.2575 (Nov 20 high), 1.2600 (Nov 19 high/psychological level) and 1.2616 (50% Fibo of 1.2882-1.2357/Oct 31 high). On the flip side, supports are seen at 1.2503/00 (Nov 20 low/psychological level), 1.2485 (10-day SMA) and 1.2442 (Nov 18 low).

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