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29 Dec 2014
EUR/USD fails to hold above 1.2200
FXStreet (Córdoba) - EUR/USD came under mild pressure and fell to the lower side of today’s range during the American session amid lack of interest and low volume.
EUR/USD reached a high of 1.2220 during the European trade but pulled back and steadied around the 1.22 mark despite the Greek vote outcome. The euro made a second attempt to consolidate above the psychological level but was rejected and dropped toward 1.2175. At time of writing, EUR/USD is trading at 1.2180, virtually unchanged on the day.
As investors assess the outlook for the Greek economy on the light of the government failure to secure majority and the snap elections, EUR/USD remains dangerously close to its 2 ½-year low scored last week at 1.2165.
EUR/USD levels to watch
In terms of technical levels, EUR/USD could find immediate supports at 1.2164 (2014 low Dec 23), 1.2133 (Aug 2 2012 low) and 1.2118 (Jul 26 2012 low) . On the other hand, resistances are seen at 1.2220 (daily high), 1.2245 (Dec 23 high) and 1.2271 (Dec 22 high).
EUR/USD reached a high of 1.2220 during the European trade but pulled back and steadied around the 1.22 mark despite the Greek vote outcome. The euro made a second attempt to consolidate above the psychological level but was rejected and dropped toward 1.2175. At time of writing, EUR/USD is trading at 1.2180, virtually unchanged on the day.
As investors assess the outlook for the Greek economy on the light of the government failure to secure majority and the snap elections, EUR/USD remains dangerously close to its 2 ½-year low scored last week at 1.2165.
EUR/USD levels to watch
In terms of technical levels, EUR/USD could find immediate supports at 1.2164 (2014 low Dec 23), 1.2133 (Aug 2 2012 low) and 1.2118 (Jul 26 2012 low) . On the other hand, resistances are seen at 1.2220 (daily high), 1.2245 (Dec 23 high) and 1.2271 (Dec 22 high).