EUR/USD erases intraday losses

FXstreet.com (Córdoba)- EUR/USD cut a tad higher, trimming intraday losses after data showed U.S. producer prices fell 0.1 percent in November, missing expectations of a flat reading.

Soft inflation figures raised doubts if it could be too early for the Fed to start thins its QE program and weighed in USD. EUR/USD extended its recovery from a minimum of 4 days of 1.3708, although the momentum was not strong enough to lift the couple in positive territory. At the time of writing, the EUR/USD is trading at 1.3745 area, virtually unchanged since its opening.

Technical levels of EUR/USD

As for the technical levels, the EUR/USD could find resistance at 1.3770 (daily), followed by 1.3811 (Dec 11) and 1.3832 (October 31). On the negative side, support is now seen at 1.3708 (daily), 1.3700 (psychological level) and 1.3685 (SMA 10 days).

View the original article here