26 Mar 2014
EUR/USD muted on US data
FXStreet (Edinburgh) - The single currency remained mostly indifferent after the release of US data on Wednesday, with the EUR/USD now attempting to regain 1.3800 the figure.
EUR/USD clings to 1.3800
The pair is wobbling around the 1.3800 handle after US Durable Goods Orders posted mixed results in February, with the headline reading expanding 2.2% MoM and 0.2% MoM excluding the Transportation sector. Prior surveys placed expectations at 1% and 0.3%, respectively. “Technically, yesterday the euro's 5-day moving average crossed below the 20-day average, a useful guide of the near-term trend, for the first time since February 10”, observed analysts at BBH. Next on tap in the US docket will be the Services PMI sponsored by Markit, expected at 54.2 for the current month.
EUR/USD levels to watch
The pair is now losing 0.23% at 1.3793 with the immediate support at 1.3785 (low Mar.25) followed by 1.3760 (low Mar.24) and then 1.3749 (low Mar.20). On the flip side, a breakout of 1.3848 (high Mar.25) would open the door to 1.3853 (10-d MA) and finally 1.3877 (high Mar.24).
EUR/USD clings to 1.3800
The pair is wobbling around the 1.3800 handle after US Durable Goods Orders posted mixed results in February, with the headline reading expanding 2.2% MoM and 0.2% MoM excluding the Transportation sector. Prior surveys placed expectations at 1% and 0.3%, respectively. “Technically, yesterday the euro's 5-day moving average crossed below the 20-day average, a useful guide of the near-term trend, for the first time since February 10”, observed analysts at BBH. Next on tap in the US docket will be the Services PMI sponsored by Markit, expected at 54.2 for the current month.
EUR/USD levels to watch
The pair is now losing 0.23% at 1.3793 with the immediate support at 1.3785 (low Mar.25) followed by 1.3760 (low Mar.24) and then 1.3749 (low Mar.20). On the flip side, a breakout of 1.3848 (high Mar.25) would open the door to 1.3853 (10-d MA) and finally 1.3877 (high Mar.24).