9 Dec 2014
EUR/USD hits 4-day high
FXStreet (Córdoba) - EUR/USD extended its recovery from yearly lows Tuesday and climbed to a 4-day high, supported by above expectations German trade balance figures and profit taking.
Euro stretched to a fresh daily high of 1.2473 ahead of the Wall Street opening as risk aversion eased somewhat, but it was struggling to gather momentum. At time of writing, EUR/USD is trading at 1.2370, 0.45% above its opening price.
Despite last couple of days' recovery, the main bias remains negative amid monetary policy divergences between the Fed and the ECB.
EUR/USD levels to watch
As for technical levels, immediate supports could be found at 1.2247 (2014 low Dec 8) and the lower 1.22s, where daily lows from August 2012 lie. On the other hand, immediate resistances are seen at 1.2384 (200-hour SMA) and 1.2400 (psychological level).
Euro stretched to a fresh daily high of 1.2473 ahead of the Wall Street opening as risk aversion eased somewhat, but it was struggling to gather momentum. At time of writing, EUR/USD is trading at 1.2370, 0.45% above its opening price.
Despite last couple of days' recovery, the main bias remains negative amid monetary policy divergences between the Fed and the ECB.
EUR/USD levels to watch
As for technical levels, immediate supports could be found at 1.2247 (2014 low Dec 8) and the lower 1.22s, where daily lows from August 2012 lie. On the other hand, immediate resistances are seen at 1.2384 (200-hour SMA) and 1.2400 (psychological level).