26 May 2015
EUR/USD drops near 1.0880 on US data
FXStreet (Edinburgh) - After a brief test of session lows near 1.0880, EUR/USD has managed to recover the 1.0900 handle following the US publications today.
EUR/USD in red post-data
The pair keeps the range after US headline Durable Goods Orders contracted more than estimated 0.5% during April while the core print (excluding the Tranportation sector) surprised to the upside expanding 0.5% on a monthly basis. Further data showed that Durable Goods Orders excluding Defence grew 0.2% and Orders of Non Defence excluding Air expanded 1.0% MoM.
Next on tap will be housing index tracked by the S&P/Case-Shiller index, New Home Sales and Consumer Confidence.
EUR/USD levels to consider
As of writing the pair is down 0.65% at 1.0907 with the immediate support at 1.0885 (low May 26) ahead of 1.0860 (low Apr.28) and then 1.0785 (low Apr.24). On the other hand a breakout of 1.0984 (high May 26) would target 1.1062 (low May 20) en route to 1.1208 (high May 22).
EUR/USD in red post-data
The pair keeps the range after US headline Durable Goods Orders contracted more than estimated 0.5% during April while the core print (excluding the Tranportation sector) surprised to the upside expanding 0.5% on a monthly basis. Further data showed that Durable Goods Orders excluding Defence grew 0.2% and Orders of Non Defence excluding Air expanded 1.0% MoM.
Next on tap will be housing index tracked by the S&P/Case-Shiller index, New Home Sales and Consumer Confidence.
EUR/USD levels to consider
As of writing the pair is down 0.65% at 1.0907 with the immediate support at 1.0885 (low May 26) ahead of 1.0860 (low Apr.28) and then 1.0785 (low Apr.24). On the other hand a breakout of 1.0984 (high May 26) would target 1.1062 (low May 20) en route to 1.1208 (high May 22).