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8 Dec 2014
EUR/USD remains under pressure below 1.2300
FXStreet (Córdoba) - EUR/USD remains under pressure trading at the 1.2250 zone as more hints at QE from European Central Bank officials triggered another round of selling.
EUR/USD hit a fresh 2 ½-year low of 1.2247 after ECB Nowotny said government bond buying could be valuable in addressing the massive weakening of the Eurozone economy. The pair was already under pressure as the dollar remained underpinned by strong US nonfarm payrolls data published Friday.
EUR/USD technical levels
At time of writing, EUR/USD is trading at 1.2265, recording a 0.17% loss on the day. As for technical levels, immediate resistances are seen at 1.2300/03 (psychological level/daily high), 1.2392/97 (Dec 5 high/10-day SMA). On the flip side, supports could be found 1.2247 (2014 low Dec 8), 1.2200 (psychological level) and 1.2167 (Aug 3 2012 low).
EUR/USD hit a fresh 2 ½-year low of 1.2247 after ECB Nowotny said government bond buying could be valuable in addressing the massive weakening of the Eurozone economy. The pair was already under pressure as the dollar remained underpinned by strong US nonfarm payrolls data published Friday.
EUR/USD technical levels
At time of writing, EUR/USD is trading at 1.2265, recording a 0.17% loss on the day. As for technical levels, immediate resistances are seen at 1.2300/03 (psychological level/daily high), 1.2392/97 (Dec 5 high/10-day SMA). On the flip side, supports could be found 1.2247 (2014 low Dec 8), 1.2200 (psychological level) and 1.2167 (Aug 3 2012 low).