28 Nov 2014
EUR/USD another attempt to 1.2480
FXStreet (Edinburgh) - The euro is now intensifying the intraday correction higher, pushing EUR/USD to test the upper 1.2400 once again.
EUR/USD following USD softness
A bout of selling interest is hitting the greenback now, helping spot to challenge session highs in the vicinity of the critical 1.2500 the figure. The EUR is thus back to the positive territory, bolstered as well by in line inflation figures from the euro area and auspicious results from German Retail Sales in October. Analysts at TD Securities assessed “the ECB will likely keep up with the QE rhetoric next week, and this should be enough of a deterrent for the market to push the pair higher in the coming days”.
EUR/USD levels to watch
As of writing the pair is up 0.12% at 1.2482 and a break above 1.2524 (high Nov.27) would open the door to 1.2532 (high Nov.26) and then 1.2564 (Kijun Sen). On the downside, the immediate support aligns at 1.2402 (low Nov.25) followed by 1.2358 (2014 low Nov.7) and then 1.2342 (low Aug.21 2012).
EUR/USD following USD softness
A bout of selling interest is hitting the greenback now, helping spot to challenge session highs in the vicinity of the critical 1.2500 the figure. The EUR is thus back to the positive territory, bolstered as well by in line inflation figures from the euro area and auspicious results from German Retail Sales in October. Analysts at TD Securities assessed “the ECB will likely keep up with the QE rhetoric next week, and this should be enough of a deterrent for the market to push the pair higher in the coming days”.
EUR/USD levels to watch
As of writing the pair is up 0.12% at 1.2482 and a break above 1.2524 (high Nov.27) would open the door to 1.2532 (high Nov.26) and then 1.2564 (Kijun Sen). On the downside, the immediate support aligns at 1.2402 (low Nov.25) followed by 1.2358 (2014 low Nov.7) and then 1.2342 (low Aug.21 2012).