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4 Dec 2014
EUR/USD finds support at 1.2360
FXStreet (San Francisco) - The fall of the euro against the dollar from 1.2455 found support at 1.2360 where the pair experienced buying interest that sent it back to 1.2375.
Earlier in the day, the EUR/USD rebounded from 1.2275 to trade as high as 1.2455 after the press conference of Mario Draghi and his bearish outlook on the Eurozone; however a report by Bloomberg saying that the ECB is ready to begin its QE as early as January sent the pair to 1.2360.
Currently, EUR/USD is trading at 1.2377, up 0.55% on the day, having posted a daily high at 1.2457 and low at 1.2282. EUR/USD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish.
EUR/USD Levels
If the pair extends rebound, it will find resistances at 1.2400, 1.2420 and 1.2455. To the downside, supports are at 1.2360, 1.2300 and 1.2275.
Earlier in the day, the EUR/USD rebounded from 1.2275 to trade as high as 1.2455 after the press conference of Mario Draghi and his bearish outlook on the Eurozone; however a report by Bloomberg saying that the ECB is ready to begin its QE as early as January sent the pair to 1.2360.
Currently, EUR/USD is trading at 1.2377, up 0.55% on the day, having posted a daily high at 1.2457 and low at 1.2282. EUR/USD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish.
EUR/USD Levels
If the pair extends rebound, it will find resistances at 1.2400, 1.2420 and 1.2455. To the downside, supports are at 1.2360, 1.2300 and 1.2275.