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9 Dec 2014
EUR/USD taking profits and back below 1.2400
FXStreet (Guatemala) - EUR/USD is trading at 1.2384, up 0.61% on the day, having posted a daily high at 1.2448 and low at 1.2292.
EUR/USD has given back a portion of todays rally and is currently changing hands below the 1.24 handle. There is little out there in the way of events but simply we are moving into seasonal activity in an environment where global risk tensions are mounting.
The divergence between the ECB and Fed is still compelling although there are increasing speculation that rates may in fact need to hold rates where they are for a considerable period of time which has taking the shine of the buck in recent trading.
EUR/USD technical are bearish
Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank, explained that the EUR/USD short‐term technical are bearish. “Support lies at the recent low of 1.22647, while resistance comes in at Friday’s open of 1.2379. A close above this level would open up a near-term test to the 50-day MA at 1.2554”.
EUR/USD has given back a portion of todays rally and is currently changing hands below the 1.24 handle. There is little out there in the way of events but simply we are moving into seasonal activity in an environment where global risk tensions are mounting.
The divergence between the ECB and Fed is still compelling although there are increasing speculation that rates may in fact need to hold rates where they are for a considerable period of time which has taking the shine of the buck in recent trading.
EUR/USD technical are bearish
Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank, explained that the EUR/USD short‐term technical are bearish. “Support lies at the recent low of 1.22647, while resistance comes in at Friday’s open of 1.2379. A close above this level would open up a near-term test to the 50-day MA at 1.2554”.