15 December 2014, 16:16  Euro is under mild pressure

EUR/USD has been under mild pressure Monday as it has consistently failed to regain the 1.2500 level over the last days. The European calendar was empty but dovish comments from ECB Nowotny, Greek political uncertainty and higher US yields weighed on the pair. EUR/USD slid toward a low of 1.2415 during the session but the 100-hour SMA contained the downside, allowing a slight bounce. At time of writing, EUR/USD is trading at 1.2429, 0.35% below its opening price. In terms of technical levels, immediate support levels are seen at 1.2415 (daily low) and 1.2400 (psychological level/38.2% retracement of 1.2247-1.2494) ahead of 1.2383 (Dec 12 low). On the other hand, resistances could be found at 1.2478 (daily high), 1.2500 (psychological level) and 1.2538 (50-day SMA).

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