EUR/USD back to square one

By FXStreet FXStreet (Córdoba) – EUR/USD entered a consolidative phase just above the 1.08 mark on Friday with the Fed rate hike out of the way and markets entering holiday mode.

EUR/USD rose to a high of 1.0867 during the European session but failed to hold gains and pulled back to the 1.0805 zone before finding support. The pair is trading back at square one at the 1.0835 zone ahead of the Wall Street opening.

During the New York session, data includes US Markit services and composite PMIs preliminary readings for December and Kansas City Fed manufacturing index.

EUR/USD levels to watch

In terms of technical levels, next supports are seen at 1.0795 (Dec 7 low), 1.0787 (21-day SMA) and 1.0635 (Dec 1 & 2 highs). On the flip side, immediate resistances line up at 1.0911 (50-day SMA), 1.1037 (200-day SMA) and 1.1055/59 (100-day SMA/Dec 15 high).
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Source:: FX Street