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29 Dec 2014
EUR/USD clings to 1.2200
FXStreet (Córdoba) - EUR/USD continues to hover around 1.2200 ahead of the Wall Street opening, trading within a narrow range, barely affected by news the Greek government failed to secure majority in a presidential election.
EUR/USD managed to hold ground despite Greece gears up for snap elections, but it remains vulnerable within a touching distance of its 2014 low of 1.2164 scored before Christmas. At time of writing, EUR/USD is trading at 1.2201, recording a 0.19% gain Monday.
Stavros Dimas only obtained 168 votes (180 needed) and will force Prime Minister Samaras to call for elections in 30 days, while markets worry it could give power to left party Syriza, long opposed to international bailout.
EUR/USD technical levels
As for short-term technical levels, EUR/USD could find immediate supports at 1.2164 (2014 low Dec 23) and 1.2133 (Aug 2 2012 low). On the flip side, resistances are seen at 1.2220 (daily high) and 1.2245 (Dec 23 high).
EUR/USD managed to hold ground despite Greece gears up for snap elections, but it remains vulnerable within a touching distance of its 2014 low of 1.2164 scored before Christmas. At time of writing, EUR/USD is trading at 1.2201, recording a 0.19% gain Monday.
Stavros Dimas only obtained 168 votes (180 needed) and will force Prime Minister Samaras to call for elections in 30 days, while markets worry it could give power to left party Syriza, long opposed to international bailout.
EUR/USD technical levels
As for short-term technical levels, EUR/USD could find immediate supports at 1.2164 (2014 low Dec 23) and 1.2133 (Aug 2 2012 low). On the flip side, resistances are seen at 1.2220 (daily high) and 1.2245 (Dec 23 high).