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20 Dec 2013
EUR/USD reverses daily losses
FXstreet.com (Córdoba) - The euro managed to shrug off the S&P downgrade and bounced off 2-week lows toward fresh session highs against the dollar.
With no clear catalyst, the EUR/USD picked up momentum and rose 40 pips from a low of 1.3622 to a high of 1.3662 before the 20-day SMA capped the advance. At time of writing, the EUR/USD is trading at the 1.3655 area, virtually unchanged since opening ahead of US real GDP, GDP prices and the Kansas City Fed manufacturing survey figures.
EUR/USD levels to watch
As for technical levels, the EUR/USD could find next resistances at 1.3666 (daily high), 1.3693 (Dec 19 high) and 1.3730 (10-day SMA). On the downside, supports are seen at 1.3620 (Dec 6 low), 1.3600 (psychological level) and 1.3580 (Nov 29 low).
With no clear catalyst, the EUR/USD picked up momentum and rose 40 pips from a low of 1.3622 to a high of 1.3662 before the 20-day SMA capped the advance. At time of writing, the EUR/USD is trading at the 1.3655 area, virtually unchanged since opening ahead of US real GDP, GDP prices and the Kansas City Fed manufacturing survey figures.
EUR/USD levels to watch
As for technical levels, the EUR/USD could find next resistances at 1.3666 (daily high), 1.3693 (Dec 19 high) and 1.3730 (10-day SMA). On the downside, supports are seen at 1.3620 (Dec 6 low), 1.3600 (psychological level) and 1.3580 (Nov 29 low).