EUR/USD: Better than expected Chicago PMI
The Market News International Chicago Business Barometer unexpectedly rose to 59.5 in December, better than 56.3 expected. Later today, the U.S. initial jobless claims in the week ending December 26 will be expected at 0.83 million. But U.S. dollar remains under pressure.
From a technical point of view, on a daily chart, EUR/USD stands above a strong support at 1.2050 and is supported by its rising 50-day moving average (in blue). Readers may therefore consider the potential for further advance above 1.2050. The nearest threshold would be set at horizontal resistance at 1.2410 and a second one is set at 2018 top at 1.2550.
Source: TradingView, GAIN Capital
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