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10 Dec 2014
EUR/USD remains capped by 1.2400
FXStreet (Córdoba) - EUR/USD is going through a consolidation phase Wednesday after a sharp rally witnessed the previous day amid broad USD weakness.
The euro retreated against the dollar during the European session and hit a low of 1.2363 on softer-than-expected French industrial production data, but quickly recovered its losses to trade virtually unchanged on the day. Having spent the past sessions in a slim range, EUR/USD is currently trading at 1.2375.
There is no first-tier data scheduled for the American session, so focus will likely remain on global growth concerns and political uncertainty in Greece.
EUR/USD levels to watch
In terms of technical levels, EUR/USD could find immediate resistances at 1.2397/1.2400 (daily high/psychological level) and 1.2447 (Dec 9 high). On the other hand, supports are seen at 1.2360 (daily low) and 1.2291 (Dec 9 low).
The euro retreated against the dollar during the European session and hit a low of 1.2363 on softer-than-expected French industrial production data, but quickly recovered its losses to trade virtually unchanged on the day. Having spent the past sessions in a slim range, EUR/USD is currently trading at 1.2375.
There is no first-tier data scheduled for the American session, so focus will likely remain on global growth concerns and political uncertainty in Greece.
EUR/USD levels to watch
In terms of technical levels, EUR/USD could find immediate resistances at 1.2397/1.2400 (daily high/psychological level) and 1.2447 (Dec 9 high). On the other hand, supports are seen at 1.2360 (daily low) and 1.2291 (Dec 9 low).