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3 Dec 2014
EUR/USD depressed around 1.2370
FXStreet (Edinburgh) - The demand for he single currency remains subdued on Wednesday, with EUR/USD gyrating around the 1.2370 region.
EUR/USD focus on PMIs
The solid performance of the greenback on Tuesday sent spot back below the 1.2400 handle, opening the door for another visit to 2014 lows around 1.2360/55. Ahead in the session, Services PMIs in Euroland will take centre stage ahead of EMU’s Retail Sales; across the ocean, the ADP Employment Change, the ISM Non Manufacturing and the Fed’s Beige Book will be the highlights in the US economy.
EUR/USD levels to watch
At the moment the pair is losing 0.10% at 1.2367 and a break below 1.2358 (2014 low Nov.7) would expose 1.2342 (low Aug.21 2012) and then 1.2295 (low Aug.20 2012). On the flip side, the immediate hurdle lines up at 1.2419 (low Dec.1) ahead of 1.2449 (10-d MA) and finally 1.2476 (high Dec.2).
EUR/USD focus on PMIs
The solid performance of the greenback on Tuesday sent spot back below the 1.2400 handle, opening the door for another visit to 2014 lows around 1.2360/55. Ahead in the session, Services PMIs in Euroland will take centre stage ahead of EMU’s Retail Sales; across the ocean, the ADP Employment Change, the ISM Non Manufacturing and the Fed’s Beige Book will be the highlights in the US economy.
EUR/USD levels to watch
At the moment the pair is losing 0.10% at 1.2367 and a break below 1.2358 (2014 low Nov.7) would expose 1.2342 (low Aug.21 2012) and then 1.2295 (low Aug.20 2012). On the flip side, the immediate hurdle lines up at 1.2419 (low Dec.1) ahead of 1.2449 (10-d MA) and finally 1.2476 (high Dec.2).