EUR/USD consolidates above 1.2500
Topic: EUR/USD consolidates above 1.2500
FXStreet (Edinburgh) - The shared currency is now looking to keep the trade above the 1.2500 limestone, taking EUR/USD to the 1.2515/20 band.
EUR/USD boosted by ZEW, soft USD
The offered tone surrounding the greenback plus ZEW results above estimates in Germany and the UME are backing today’s EUR upside, managing not only to regain the 1.2500 handle but also to print session peaks around 1.2540. Nothing relevant from Euroland for the rest of the session, whereas Producer Prices and the NAHB Housing Market index will grab all the attention in the US economy.
EUR/USD key levels
The pair is now advancing 0.50% at 1.2513 with the next resistance at 1.2550 (21-d MA) followed by 1.2580 (high Nov.17) and then 1.2614 (low Oct.23). On the flip side, a breakdown of 1.2457 (200-h MA) would open the door to 1.2445 (low Nov.17) and finally 1.2398 (low Nov.14).