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24 Dec 2014
EUR/USD flirts with 1.22 levels
FXStreet (Mumbai) - The EUR/USD pair continues to trade around 1.22 levels as we move into the US session amid low volumes and lack of fresh fundamental triggers.
The pair trades 0.19% higher for the day at 1.2197 levels. The single currency erased losses at the onset of the European session today tracking moderate decline in the US treasury yields. Since then, the EUR/USD has moved largely in the range of 1.2190 to 1.2210 levels.
Moreover, gains are likely to be capped ahead of the US session since the 10-year yields in the US have recovered losses to trade 2.3 basis points higher at 2.28%. The yields in the US may continue to rise, extending the post GDP strength of the previous session.
EUR/USD Technical Levels
The immediate resistance is seen on the hourly charts at 1.2208, above which gains could be extended to 1.2246. On the flip side, a break below 1.2190 shall open doors for a re-test of 1.2167 levels.
The pair trades 0.19% higher for the day at 1.2197 levels. The single currency erased losses at the onset of the European session today tracking moderate decline in the US treasury yields. Since then, the EUR/USD has moved largely in the range of 1.2190 to 1.2210 levels.
Moreover, gains are likely to be capped ahead of the US session since the 10-year yields in the US have recovered losses to trade 2.3 basis points higher at 2.28%. The yields in the US may continue to rise, extending the post GDP strength of the previous session.
EUR/USD Technical Levels
The immediate resistance is seen on the hourly charts at 1.2208, above which gains could be extended to 1.2246. On the flip side, a break below 1.2190 shall open doors for a re-test of 1.2167 levels.