17 Dec 2014
EUR/USD trades below 10-day SMA
FXStreet (Mumbai) - The Euro erased gains from the previous session and trades lower against its US counterpart as traders remain cautious with attention now turning to the FOMC meeting which concludes today.
The EUR/USD pair traded now at 1.2492 levels, down -0.15% on the day, after clocking a three-week high of 1.2569 in the previous session. The Euro traded lower as the US dollar regained strength against most of its peers. The US dollar index, which measures the greenback against a basket of six major currencies, rebounded today to trade at 88.26, up 0.22%, on the day.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.2504 (10-day SMA) levels, above which gains could be extended to 1.2524 (Nov 11 High) levels. On the flip side, support is seen at 1.2480 levels, below which it could extend losses to 1.2469 (50-day SMA) levels.
The EUR/USD pair traded now at 1.2492 levels, down -0.15% on the day, after clocking a three-week high of 1.2569 in the previous session. The Euro traded lower as the US dollar regained strength against most of its peers. The US dollar index, which measures the greenback against a basket of six major currencies, rebounded today to trade at 88.26, up 0.22%, on the day.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.2504 (10-day SMA) levels, above which gains could be extended to 1.2524 (Nov 11 High) levels. On the flip side, support is seen at 1.2480 levels, below which it could extend losses to 1.2469 (50-day SMA) levels.