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24 Feb 2014
EUR/USD turns intraday negative
FXStreet (Córdoba) - The EUR/USD came under pressure during the European session despite strong German IFO data and fell into the red after being rejected by the 1.3770 zone.
The EUR/USD couldn't sustain IFO inspired gains and dropped over half a cent over the last hours, stretching to a low of 1.3715 after a negative reading of the Chicago Fed National Activity Index for January.
EUR/USD levels to watch
At time of writing, the EUR/USD is trading at the 1.3720 area, recording a 0.1% loss on the day. A break below 1.3715 (Feb 24 low) would expose 1.3700 (psychological level) and 1.3685 (Feb 20 low). On the flip side, resistances could be found at 1.3770/73 (Feb 24 & 19 highs) and 1.3800 (psychological level) ahead of 1.3811 (Dec 31 high).
The EUR/USD couldn't sustain IFO inspired gains and dropped over half a cent over the last hours, stretching to a low of 1.3715 after a negative reading of the Chicago Fed National Activity Index for January.
EUR/USD levels to watch
At time of writing, the EUR/USD is trading at the 1.3720 area, recording a 0.1% loss on the day. A break below 1.3715 (Feb 24 low) would expose 1.3700 (psychological level) and 1.3685 (Feb 20 low). On the flip side, resistances could be found at 1.3770/73 (Feb 24 & 19 highs) and 1.3800 (psychological level) ahead of 1.3811 (Dec 31 high).