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5 Dec 2014
EUR/USD retreats, trades below 1.2400
FXStreet (Mumbai) - EUR/USD failed to sustain gains after having jumped USD 1.24 in the previous session, as expectations of upbeat US NFP reports drove the US dollar higher.
The EUR/USD pair is trading at 1.2380 levels during Asian hours, marginally up by 0.02%, having recorded a high of USD 1.2458 yesterday. The Euro trimmed gains against the greenback as the market still holds its hopes high that ECB may be preparing to unveil QE package in its January meeting dragged down the single currency.
EUR/USD Technical Levels
To the upside, the next resistance is located at 1.24 and above which it could extend gains to 1.2458 (Dec4 High) levels. To the downside immediate support might be located at 1.2357 (Nov 24 Low) and below that at 1.2344 (50-day SMA).
The EUR/USD pair is trading at 1.2380 levels during Asian hours, marginally up by 0.02%, having recorded a high of USD 1.2458 yesterday. The Euro trimmed gains against the greenback as the market still holds its hopes high that ECB may be preparing to unveil QE package in its January meeting dragged down the single currency.
EUR/USD Technical Levels
To the upside, the next resistance is located at 1.24 and above which it could extend gains to 1.2458 (Dec4 High) levels. To the downside immediate support might be located at 1.2357 (Nov 24 Low) and below that at 1.2344 (50-day SMA).