FXstreet.com (London) - Christmas week is here, and the final rounds of position closing and winding-down take place. Dollar shorts are at 10-month lows as speculators reverse their negative views on the Greenback, and look to 2010 for new opportunities.
Dollar has had a great time this December, recently rallying to monthly highs across the board.
EUR/USD last week hit three-and-a-half month lows, under combined pressure of Eurozone sovereign debt worries, and a soaring Dollar. Dollar has been rising off the back of improved economic outlook for the US, and increased anticipation over future rates hikes.
The pair currently trades at 1.4341/6 up 12 pips from the open. In the case of a reversal support is at 1.4271, strong support zone from Dec 18.On the upside resistance can be found at 1.4398. This zone was tested several times during Dec 18 trading.