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FXstreet.com (Córdoba) - The euro is poised to close the week below the 1.2600 mark, recording its first loss in 3 weeks, despite the positive newsflow enjoyed this week including the pro-bailout victory in Greek elections and the conformation of a coalition government along with advances toward the Spanish bailout ahead of the EU summit next week.

However, the US dollar strengthened after the Fed decided to extend the Operation Twist as some participants were expecting a more aggressive approach as another round of quantitative easing.

On Friday, the euro received a boost after the ECB announced measures to ease collateral rules and leaders of the four biggest economies of the bloc agrees on a growth stimulus package. However, the recovery of the EUR/USD was capped by the 1.2585 zone.

At time of writing, the pair is trading around 1.2560 up 0.2% on the day but printing a 1.0% weekly loss. In terms of technical levels, supports are seen at 1.2520, 1.2460 and 1.2410, while resistances could be found at 1.2600, 1.2640 and 1.2700.

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