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16 Dec 2014
EUR/USD underpinned before Busy Session
FXStreet (Mumbai) - The Euro trades moderately higher against the greenback in the Asian morning, as markets await a series of macroeconomic releases from the Euro zone due for release in the European session.
The EUR/USD pair trades now at 1.2454 levels, up 0.14%, compared to previous session’s close of 1.2437 levels. The dollar traded lower against the single currency after mixed set of data released in US trading failed to impress the dollar bulls. The US Industrial Production rose 1.3% in November after the revised 0.1% gain booked in October, while the Empire State Manufacturing Survey revealed that the figure fell to -3.6 points for December, down from the 10.16 posted a month ago against estimates of 12 points rise.
The US dollar is likely to remain cautious against the Euro before the Federal Reserve's (Fed) two-day policy meeting which starts today.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.2478 (Dec 14 High) levels, above which gains could be extended to 1.2496 (Dec 11 High) levels. On the flip side, support is seen at 1.2427 (100-day SMA) levels, below which it could extend losses to 1.2413 (Dec 15 Low) levels.
The EUR/USD pair trades now at 1.2454 levels, up 0.14%, compared to previous session’s close of 1.2437 levels. The dollar traded lower against the single currency after mixed set of data released in US trading failed to impress the dollar bulls. The US Industrial Production rose 1.3% in November after the revised 0.1% gain booked in October, while the Empire State Manufacturing Survey revealed that the figure fell to -3.6 points for December, down from the 10.16 posted a month ago against estimates of 12 points rise.
The US dollar is likely to remain cautious against the Euro before the Federal Reserve's (Fed) two-day policy meeting which starts today.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.2478 (Dec 14 High) levels, above which gains could be extended to 1.2496 (Dec 11 High) levels. On the flip side, support is seen at 1.2427 (100-day SMA) levels, below which it could extend losses to 1.2413 (Dec 15 Low) levels.