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EUR/USD is edging higher, as the markets responded positively to an upbeat  meeting between President Obama and US Congressional leaders over the fiscal cliff crisis. Meanwhile, the fighting in the Middle East continues, as attempts are being made to broker a cease fire between Hamas and Israel. Today’s highlight is US Existing Home Sales.

EUR/USD Technical

  • Asian session: Euro/dollar was uneventful, and consolidated around 1.2760. The pair has edged higher in the European session.
  • Current range: 1.2750 to 1.28.

Further levels in both directions:    

  • Below: 1.2750, 1.2690, 1.2624, 1.2590, 1.25, 1.2440, 1.2390, 1.2250, 1.2140 and 1.2042.
  • Above: 1.28, 1.2880, 1.2960, 1.30, 1.3030, 1.3080, 1.3140, and 1.3170.
  • 1.2750 is providing support. 1.2690 is stronger.
  • 1.28 is the next line on the upside.

Euro/dollar  edges higher  on fiscal cliff hopes – click on the graph to enlarge.

EUR/USD Fundamentals

  • 8:30  Deutsche Bundesbank President Jens Weidmann Speaks.
  • 15:00 US Existing Home Sales. Exp. 4.76M.
  • 15:00 US NAHB Housing Market Index. Exp. 41 points.

For more events and lines, see the Euro to dollar forecast

EUR/USD Sentiment