EUR/USD hit 1.2394 during European morning trade, the session low; the pair subsequently consolidated at 1.2451, shedding 0.20%. The pair was likely to find support at 1.2357, the low of November 7 and a 26-month low and resistance at 1.2568, the high of November 5.In a report, Eurostat said industrial production in the euro zone increased by 0.6% in September, below forecasts for a gain of 1.0%. Industrial production in August fell by 1.4%. Year-on-year, industrial production inched up 0.6% in September from a year earlier, compared to expectations for a 0.2% decline and after dropping at a rate of 0.5% in the preceding month.Meanwhile, demand for the dollar continued to be underpinned by expectations that the recovery in the U.S. will outstrip other major economies
INTRADAY OUTLOOK
Support: 1.2440
Resistance: 1.2502
RECOMMENDATION:
1. Buy EUR/USD Above 1.2504-TG:1.2524/1.2454 SL 1.2474
2. Sell EUR/USD Below 1.2438-TG:1.2418/1.2388 SL 1.2468
INTRADAY OUTLOOK
Immediate Support: 115.02
Immediate Resistance: 115.56
RECOMMENDATION:
1. Buy USD/JPY Above 115.58-TG:115.78/116.08 SL 115.28
2. Sell USD/JPY Below 115.00-TG:114.80/114.50 SL 115.30
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