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2 Dec 2014
EUR/USD hits 1-week low below 1.2400
FXStreet (Córdoba) - EUR/USD dropped further and reached 1.2394, the lowest price since November 24. Currently is trading back above 1.2400 but remains under pressure.
The pair lost ground amid a stronger greenback, following comments by Fed’s officials and after economic data. In the US, construction spending rose 1.1% in October, above the 0.6% expected while the New York ISM index climbed from 54.8 to 62.4.
Despite falling against the US dollar, the euro is rising versus the pound and the Swiss franc. Greenback is the best performer in the currency market and extended gains after Wall Street opening bell.
EUR/USD technical levels
The pair so far has been able to avoid a consolidation below 1.2400, that could open the door for a slide toward 1.2355/60 (2014 low); below here the next potential support lies at 1.2340/45 (Aug 21 2012 low). The immediate resistance has now become 1.2415/20 followed by 1.2450 and 1.2475 (daily high).
The pair lost ground amid a stronger greenback, following comments by Fed’s officials and after economic data. In the US, construction spending rose 1.1% in October, above the 0.6% expected while the New York ISM index climbed from 54.8 to 62.4.
Despite falling against the US dollar, the euro is rising versus the pound and the Swiss franc. Greenback is the best performer in the currency market and extended gains after Wall Street opening bell.
EUR/USD technical levels
The pair so far has been able to avoid a consolidation below 1.2400, that could open the door for a slide toward 1.2355/60 (2014 low); below here the next potential support lies at 1.2340/45 (Aug 21 2012 low). The immediate resistance has now become 1.2415/20 followed by 1.2450 and 1.2475 (daily high).