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EUR/USD back to 1.2520, again

FXStreet (Edinburgh) - The earlier bullish attempt lost vigour just ahead of 1.2570, triggering another correction lower with EUR/USD falling back to the 1.2520 area.

EUR/USD down from 1.2570

It seems the pair can’t find a proper catalyst today, and continues to debate between bouts of USD buying interest and spikes of risk appetite. However, the EUR is showing some degree of resilience, managing to keep the trade above 1.2500 the figure against a backdrop of poor results from the manufacturing and services PMIs in Euroland and a positive docket from the US economy, with CPI figures, Existing Home Sales and the Philly Fed Manufacturing Survey surpassing expectations.

EUR/USD levels to consider

As of writing the pair is losing 0.12% at 1.2527 with the immediate support at 1.2505 (hourly low Nov.20) ahead of 1.2487 (10-d MA) and finally 1.2442 (low Nov.18). On the upside, a breakout of 1.2602 (high Nov.19) would open the door to 1.2614 (low Oct.23).

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