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EUR/USD extends gains after Weidmann’s comments

FXStreet (Córdoba) - The euro extended intraday gains versus the dollar, following weaker-than-expected US data and comments from ECB member Weidmann.

European Central Bank Governing Council member and Bundesbank President Jens Weidmann expressed reservations about a full-blown QE program in the Eurozone. Talk against QE underpinned the euro across the board and sent EUR/USD to a high of 1.2444 in recent dealings.

EUR/USD technical levels

At time of writing, EUR/USD is trading at 1.2435, recording a 0.31% gain on the day, with immediate resistances seen at 1.2480 (10-day SMA), 1.2500 (pychologicallevel) and 1.2512 (21-day SMA). On the other hand, supports could be found at 1.2400 (psychological level), 1.2360/57 (Nov 24 & 7 lows) and 1.2341 (Aug 21 2012 low).

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