24 Apr 2014
EUR/USD tests lows on US data
FXStreet (Edinburgh) - The single currency is now easing some ground vs. the greenback, dragging the EUR/USD to challenge session lows in the boundaries of the 1.3800 handle.
EUR/USD lower on data
The greenback is now gathering pace, pushing spot to test the critical support at 1.3800 the figure after upbeat results from the US docket: Durable Goods Orders expanded 2.6% MoM and 2.0% excluding the Transportation sector, both readings surpassing previous estimates. On the other side, Initial Claims rose to 329K in the week ended on April 18th, missing consensus for 305K. It is worth noting the earlier on during the European morning, better IFO numbers saw the pair climbs near 1.3850; the subsequent speech by ECB’s Draghi left no room for surprises, being largely bypassed by traders.
EUR/USD levels to watch
As of writing the pair is losing 0.12% at 1.3800 and a breakdown of 1.3796 (21-d MA) en would aim for 1.3785 (low Apr.22). On the upside, the initial hurdle aligns at 1.3855 (high Apr.23) ahead of 1.3865 (high Apr.17) and then 1.3906 (high Apr.11).
EUR/USD lower on data
The greenback is now gathering pace, pushing spot to test the critical support at 1.3800 the figure after upbeat results from the US docket: Durable Goods Orders expanded 2.6% MoM and 2.0% excluding the Transportation sector, both readings surpassing previous estimates. On the other side, Initial Claims rose to 329K in the week ended on April 18th, missing consensus for 305K. It is worth noting the earlier on during the European morning, better IFO numbers saw the pair climbs near 1.3850; the subsequent speech by ECB’s Draghi left no room for surprises, being largely bypassed by traders.
EUR/USD levels to watch
As of writing the pair is losing 0.12% at 1.3800 and a breakdown of 1.3796 (21-d MA) en would aim for 1.3785 (low Apr.22). On the upside, the initial hurdle aligns at 1.3855 (high Apr.23) ahead of 1.3865 (high Apr.17) and then 1.3906 (high Apr.11).