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24 Dec 2014
EUR/USD trades below 1.22 handle
FXStreet (Mumbai) - The Euro trades unchanged against the US dollar, slightly away from fresh two and a half year lows of 1.2164 hit in the previous session.
Currently, the EUR/USD pair trades flat at 1.2178 levels, after falling to fresh two and half year low in the US trading. The single currency plunged to its lowest level since July 2012 versus the greenback after the US GDP rose at an annualized rate of 5.0%, blowing past expectations for a 4.3% expansion, to mark the steepest expansion since the third quarter of 2003.
The EUR/USD is likely to continue its bearish momentum as Greek political uncertainties continue to weigh.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.2189 (Today’s High) levels, above which gains could be extended to 1.22 levels. On the flip side, support is seen at 1.2164 (Dec 23 Low) levels, below which it could extend losses to 1.2140 (2012) levels.
Currently, the EUR/USD pair trades flat at 1.2178 levels, after falling to fresh two and half year low in the US trading. The single currency plunged to its lowest level since July 2012 versus the greenback after the US GDP rose at an annualized rate of 5.0%, blowing past expectations for a 4.3% expansion, to mark the steepest expansion since the third quarter of 2003.
The EUR/USD is likely to continue its bearish momentum as Greek political uncertainties continue to weigh.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.2189 (Today’s High) levels, above which gains could be extended to 1.22 levels. On the flip side, support is seen at 1.2164 (Dec 23 Low) levels, below which it could extend losses to 1.2140 (2012) levels.