Forex: EUR/USD attempting recovery from 1.4300; 3-month low

By IBTimes Staff Reporter | December 18 2009 2:02 AM

FXstreet.com (Barcelona) - Retreat from year to date high at 1-5145 on early December has extended lower during Asian session, with the Euro hitting a fresh 3-month low at 1.4300 before bouncing up to 1.4410 where the pair has been halted.

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At the moment of writing, the Euro trades at 1.4380, with next resistance levels at 1.4420/25 and above here, 1.4450 and 1.4500 (Dec 15/16 low). On the downside, initial support level lies at 1.4345/50, and below here, 1.4300 (session low) and 1.4240.

EUR/GBP recovery attempt from 4-week low at 0.8850 was capped on Thursday at 0.8920, and the pair dropped back to 0.8860 to pick up and trade at levels around 0.8900 at the moment of writing. Resistance levels lie at 0.8920 and 0.8960/80. On the downside, support levels are 0.8850/60 and key support at 0.8830.

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