25 Sep 2013
EUR/USD clings to 1.3500 on US data
FXstreet.com (Edinburgh) -The single currency is now surrendering initial gains despite US Durable Goods Orders disappointed investors in August, with the EUR/USD hovering over 1.3510/05.
EUR/USD supported by data
The US docket came in on the softer side on Wednesday, after Durable Goods Orders expanded 0.1% inter-month and contracted 0.2% excluding the Transportation sector, vs., forecasts at 0.2% and 1.0%, respectively. Next on tap will be the results of New Home Sales during August, with consensus pointing to a rise of 420K vs. July’s 394K. Stoyan Mihaylov, Strategist at DeltaStock.com, commented, “The consolidation pattern below 1.3568 is still underway and although there is risk of tighter test above 1.3450 major support, the overall bias is bullish, for a rise towards 1.3710”.
EUR/USD key levels
At the moment the pair is up 0.21% at 1.3502 with the immediate resistance at 1.3525 (hourly cloud top) followed by 1.3555 (high Sep.23) and finally 1.3569 (high Sep.19). On the downside, a violation of 1.3459 (23.6% of 1.3104-1.3569) would open the door to 1.3453 (high Aug.20) and then 1.3399 (high Aug.28
EUR/USD supported by data
The US docket came in on the softer side on Wednesday, after Durable Goods Orders expanded 0.1% inter-month and contracted 0.2% excluding the Transportation sector, vs., forecasts at 0.2% and 1.0%, respectively. Next on tap will be the results of New Home Sales during August, with consensus pointing to a rise of 420K vs. July’s 394K. Stoyan Mihaylov, Strategist at DeltaStock.com, commented, “The consolidation pattern below 1.3568 is still underway and although there is risk of tighter test above 1.3450 major support, the overall bias is bullish, for a rise towards 1.3710”.
EUR/USD key levels
At the moment the pair is up 0.21% at 1.3502 with the immediate resistance at 1.3525 (hourly cloud top) followed by 1.3555 (high Sep.23) and finally 1.3569 (high Sep.19). On the downside, a violation of 1.3459 (23.6% of 1.3104-1.3569) would open the door to 1.3453 (high Aug.20) and then 1.3399 (high Aug.28