Forex: EUR/USD hovers above 1.2520 ahead of Fed's Beige Book

FXstreet.com (Córdoba) - The euro fell against the dollar on Wednesday, weighed by a string of positive in the US data, which lowers prospects the Federal Reserve could launch another round of bond buying ahead of the so awaited Bernanke's speech in Jackson Hole on Friday.

After hitting a low of 1.2518, EURUSD bounced slightly and has stabilized around the 100-hour SMA ahead of the Fed's Beige Book publication, due at 18:00GMT, where investors will be searching further insights on the economic activity in the US.

At time of writing, EURUSD is trading at the 1.2530/35 area, still down 0.2% on Wednesday. As for technical levels, next supports are seen at 1.2520, 1.2485 and 1.2440, while resistances could be found at 1.2550, 1.2590 and then at 1.2630.