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12 Dec 2014
EUR/USD: 1.2500 is the key – FXStreet
FXStreet (Barcelona) - According to FXStreet Editor and Analyst, Ani Salama, 1.2500 level is the key for EUR/USD as only a clean break above this could push the pair higher from its current range-trade.
Key Quotes
“EUR/USD managed to move higher Friday amid broad dollar weakness, although it remains well within this week's range. Yesterday's rejection from 1.2500 and the subsequent negative close suggests that overall negative tone persists. Investors seem unwilling to push EUR/USD higher as Greece political uncertainty weighs and ahead of the FOMC meeting next week.”
“Technically speaking, EUR/USD holds a mild positive tone in short-term charts but indicators lack strength, pointing to some consolidation ahead. The pair will need a decisive break above 1.2500 for confirmation, with the 1.2530/50 as next bullish target ahead of 1.2597, Nov 19 high.”
“On the other hand, 1.2370 (50.0% retracement of 1.2247/1.2494) contained yesterday’s pullback and is the key support level to watch. A break down here would pave the way to 1.2340 (61.8% retracement of the same rally) and will put the focus back on 2014 lows.”
Key Quotes
“EUR/USD managed to move higher Friday amid broad dollar weakness, although it remains well within this week's range. Yesterday's rejection from 1.2500 and the subsequent negative close suggests that overall negative tone persists. Investors seem unwilling to push EUR/USD higher as Greece political uncertainty weighs and ahead of the FOMC meeting next week.”
“Technically speaking, EUR/USD holds a mild positive tone in short-term charts but indicators lack strength, pointing to some consolidation ahead. The pair will need a decisive break above 1.2500 for confirmation, with the 1.2530/50 as next bullish target ahead of 1.2597, Nov 19 high.”
“On the other hand, 1.2370 (50.0% retracement of 1.2247/1.2494) contained yesterday’s pullback and is the key support level to watch. A break down here would pave the way to 1.2340 (61.8% retracement of the same rally) and will put the focus back on 2014 lows.”