20 Oct 2015
EUR/USD trims gains, back around 1.1360
FXStreet (Edinburgh) - The European currency is losing some of its early shine vs. the dollar, now taking EUR/USD back towards the 1.1360 area.
EUR/USD eases ground on US data
The pair has accelerated its correction lower from session tops near 1.1390 following the mixed results from the US housing sector, where Housing Starts surprised markets to the upside expanding at a monthly pace of 6.5% during September, or 1.206 million. On the other hand, Building Permits contracted 5.0%, or 1.103 million during the same period, missing previous forecasts.
Spot keeps the gains nonetheless, breaking above the overnight consolidative pattern around 1.1320/25 following a renewed offered tone around the greenback.
EUR/USD relevant levels
As of writing the pair is advancing 0.35% at 1.1366 with the next hurdle at 1.1466 (downtrend from May’14 top) followed by 1.1500 (psychological handle) and then 1.1714 (high post-PBoC move Aug.24). On the downside, a breach of 1.1300 (psychological level) would target 1.1240 (55-day sma) en route to 1.1229 (2-month uptrend).
EUR/USD eases ground on US data
The pair has accelerated its correction lower from session tops near 1.1390 following the mixed results from the US housing sector, where Housing Starts surprised markets to the upside expanding at a monthly pace of 6.5% during September, or 1.206 million. On the other hand, Building Permits contracted 5.0%, or 1.103 million during the same period, missing previous forecasts.
Spot keeps the gains nonetheless, breaking above the overnight consolidative pattern around 1.1320/25 following a renewed offered tone around the greenback.
EUR/USD relevant levels
As of writing the pair is advancing 0.35% at 1.1366 with the next hurdle at 1.1466 (downtrend from May’14 top) followed by 1.1500 (psychological handle) and then 1.1714 (high post-PBoC move Aug.24). On the downside, a breach of 1.1300 (psychological level) would target 1.1240 (55-day sma) en route to 1.1229 (2-month uptrend).