EUR/USD challenging the 1.2400 support
|- Spot trades unmotivated at/below the 1.24 handle.
- USD remains bid with DXY above 89.00.
- US PCE, personal income on sight.
The upbeat sentiment around the greenback is keeping EUR/USD in subdued levels at the beginning of the week around the 1.2400 neighbourhood.
EUR/USD now looks to US docket
Spot keeps the offered bias on Monday, reverting Friday’s advance and trading more than a big figure down from multi-year peaks above 1.2500 the figure seen on Thursday.
Still in the euro area, comments by ECB’s S.Lautenschlaeger and P.Praet passed largely unnoticed by market participants, while the focus of attention seems to gyrate around the buck and today’s US releases.
On that regard, US inflation figures gauged by the PCE are next on tap seconded by December’s personal income/spending.
EUR/USD levels to watch
At the moment, the pair is losing 0.23% at 1.2398 facing the next support at 1.2385 (low Jan.29) followed by 1.2310 (10-day sma) and finally 1.2172 (21-day sma). On the flip side, a breakout of 1.2537 (2018 high Jan.25) would target 1.2571 (high Dec.16 2014) en route to 1.2600 (psychological level).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.