9 Dec 2014
EUR/USD climbs above 1.23 levels
FXStreet (Mumbai) - The Euro reversed losses from the Asian session and traded higher after Euro bulls jumped back in the bid against the dollar, after falling as low as 1.2242 in the previous session.
The EUR/USD pair trades modestly higher at 1.2326 levels, closer to day’s high of 1.2341, at time of writing. The Euro remains supported after an upbeat from Germany trade data showed trade surplus with exports rising by 4.9% in October.
Moreover, the single currency also gained strength as US dollar drifted after the US Labour Market Conditions Index came out at 2.9, below the previous month's reading of 4.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.2344 (Dec 8 High) levels, above which gains could be extended to 1.2390 (200-day SMA) levels. On the flip side, support is seen at 1.2303 (Dec 7 High) level, below which it could extend losses to 1.2245 (Dec 8 Low) levels.
The EUR/USD pair trades modestly higher at 1.2326 levels, closer to day’s high of 1.2341, at time of writing. The Euro remains supported after an upbeat from Germany trade data showed trade surplus with exports rising by 4.9% in October.
Moreover, the single currency also gained strength as US dollar drifted after the US Labour Market Conditions Index came out at 2.9, below the previous month's reading of 4.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.2344 (Dec 8 High) levels, above which gains could be extended to 1.2390 (200-day SMA) levels. On the flip side, support is seen at 1.2303 (Dec 7 High) level, below which it could extend losses to 1.2245 (Dec 8 Low) levels.