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16 Dec 2014
EUR/USD hits fresh highs above 1.2500
FXStreet (Córdoba) - EUR/USD finally broke above the 1.25 mark to hit its highest level in nearly 3 weeks, supported by better-than-expected European PMIs and pushed even higher following upbeat ZEW German survey and trade data.
After 3 days of infructuous attempts, EUR/USD gathered enough momentum to pierce the 1.2500 resistance area and stretched to a high of 1.2527, last seen Nov 26, extending its recovery from this year low of 1.2246. At time of writing, EUR/USD is trading at 1.2520, recording a 0.64% gain on Tuesday.
EUR/USD levels to watch
As for technical levels, EUR/USD could find immediate resistances at 1.2530/35 (Nov 26 high/50-day SMA) and 1.2575 (Nov 20 high). On the flip side, supports are now seen at 1.2414 (Dec 15 low), 1.2400 (psychological level) and 1.2370 (Dec 11 low).
After 3 days of infructuous attempts, EUR/USD gathered enough momentum to pierce the 1.2500 resistance area and stretched to a high of 1.2527, last seen Nov 26, extending its recovery from this year low of 1.2246. At time of writing, EUR/USD is trading at 1.2520, recording a 0.64% gain on Tuesday.
EUR/USD levels to watch
As for technical levels, EUR/USD could find immediate resistances at 1.2530/35 (Nov 26 high/50-day SMA) and 1.2575 (Nov 20 high). On the flip side, supports are now seen at 1.2414 (Dec 15 low), 1.2400 (psychological level) and 1.2370 (Dec 11 low).