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EUR/USD clings to highs near 1.2440

FXStreet (Edinburgh) - A bout of buying interest is now pushing EUR/USD to session tops around the 1.2440 neighbourhood.

EUR/USD looks to US GDP

The pair is resuming the weekly upside, advancing for the second consecutive session and prolonging the bounce off sub-1.2400 levels after Friday’s sharp sell-off on Draghi’s speech. In line figures from the German GDP for the third quarter would be bolstering the current momentum, although the EUR remains vulnerable ahead of the release of the US GDP Annualized for the third quarter, with consensus expecting the economy to have expanded at an annual pace of 3.3%.

EUR/USD key levels

At the moment the pair is losing 0.07% at 1.2433 with the next support at 1.2358 (2014 low Nov.7) followed by 1.2342 (low Aug.21 2012) and then 1.2295 (low Aug.20 2013). On the upside, a break above 1.2477 (10-d MA) would aim for 1.2501 (21-d MA) and then 1.2569 (high Nov.21).

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