16 Dec 2014
EUR/USD consolidates above 1.2500
FXStreet (Córdoba) - EUR/USD retreated from daily highs and cut intraday gains as majors reversed their European session's course during American hours.
EUR/USD found sellers after reaching a 4-week high of 1.2570 and briefly dropped back below 1.2500 as investors took profit. At time of writing, the pair is trading at 1.2505, still 0.56% above its opening price.
Cautious tone is expected to persist amid emerging markets concerns and ahead of the FOMC monetary policy decision tomorrow. The Fed concludes its 2-day monetary policy meeting Wednesday and focus remains on the ‘considerable time’ description of the period the bank considers it’ll be appropriate to keep historical low rates.
EUR/USD levels to watch
As for technical levels, EUR/USD immediate supports could be found at 1.2414 (Dec 15 low), 1.2400 (psychological level) and 1.2370 (Dec 11 low). On the flip side, resistances are seen at 1.2570/75 (daily high/Nov 20 high) and 1.2600 (psychological level/Nov 19 high).
EUR/USD found sellers after reaching a 4-week high of 1.2570 and briefly dropped back below 1.2500 as investors took profit. At time of writing, the pair is trading at 1.2505, still 0.56% above its opening price.
Cautious tone is expected to persist amid emerging markets concerns and ahead of the FOMC monetary policy decision tomorrow. The Fed concludes its 2-day monetary policy meeting Wednesday and focus remains on the ‘considerable time’ description of the period the bank considers it’ll be appropriate to keep historical low rates.
EUR/USD levels to watch
As for technical levels, EUR/USD immediate supports could be found at 1.2414 (Dec 15 low), 1.2400 (psychological level) and 1.2370 (Dec 11 low). On the flip side, resistances are seen at 1.2570/75 (daily high/Nov 20 high) and 1.2600 (psychological level/Nov 19 high).