Currently, the EUR/USD pair trades flat at 1.2190 levels, after posting day’s low of 1.2169 in early Asian morning. The single currency extends its bearish momentum against the US dollar as traders continue to mull over latest employment data from US in absence of fresh data releases amid the ongoing holiday season. On the Christmas Eve, US Department of Labour released jobless claims figures, showing that the number of US citizens applying for unemployment last week fell to 280,000. US third-quarter GDP expansion with an unexpectedly strong rise of 5% continued to weigh on the EUR/USD pair.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.2193 (Today’s High) levels, above which gains could be extended to 1.22 levels. On the flip side, support is seen at 1.2164 (Dec 23 Low) levels, below which it could extend losses to 1.2140 (2012) levels.
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