FXStreet (Córdoba) – EUR/USD extended its corrective move on Monday and continued to pull back from the 1.0980 zone, where it posted a 1-month high on the back of ECB meeting last Thursday.
With the dollar taking back some of its past week’s losses, EUR/USD was dragged down to a low 1.0795 before steadying around the 1.0800 level over the last hours, in the absence of fundamental triggers. At time of writing, EUR/USD was trading at 1.0810, 0.52% below its opening price.
With the ECB behind, investors attention now turns to Dec 16 Fed decision, when the FOMC is expected to vote for a rate hike for first time since 2006.
EUR/USD key levels
As for technical levels, immediate supports are seen at 1.0700/1.0699 (psychological level/21-day SMA), 1.0520 (Apr 13 low) and then 1.0500 (psychological level/Dec 3 low). On the flip side, next resistances could be faced at 1.0955 (Dec 4 high), 1.0980 (post-ECB, Dec 3 high), 1.1000 (psychological level) and then 1.1032 (200-day SMA).
(Market News Provided by FXstreet)