Forex: EUR/USD eyes 1.2950 on weaker USD, ECB

FXstreet.com (Barcelona) - The single currency has managed to get some traction and bounce off today's lows below the key support at 1.2900 after core ECB members have discarded the likeliness of further easing by the central bank, basically refuting the previous rumours. The USD strength is losing vigour as of writing, collaborating in the euro upside as well.

The cross is now losing 0.18% at 1.2946 facing the next support at 1.2880 (low Nov.28) then 1.2875 (MA30d) and 1.2839 (61.8% 1.2661-1.3127)
On the other hand, a break above 1.3040 (prior intraday low) then 1.3060 (low Dec.5) and 1.3087 (high Dec.6).