Back
26 Aug 2013
EUR/USD eyes 1.3400 on poor Durable Goods Orders
FXstreet.com (Edinburgh) - The bloc currency reverted the initial negative trend on Monday, lifting the EUR/USD closer to the 1.3400 handle on miserable data from US Durable Goods Orders.
EUR/USD gathering traction
US Durable Goods Orders contracted more than expected during July, dropping 7.3% vs. an expected dip of 3.0% and lower than June’s 3.9% advance. Stripping the Transportation sector, orders also disappointed investors, contracting 0.6% vs. the median at 0.6%. Next on tap will be the manufacturing index sponsored by the Dallas Fed (4.4 prev.).
EUR/USD significant levels
The pair is now up 0.02% at 1.3388 and a breakdown of 1.3342 (61.8% of 1.2754-1.3452) would target 1.3333 (MA10d) en route to 1.3297 (low Aug.22). On the upside, the initial barrier aligns at 1.3427 (high Aug.21) ahead of 1.3453 (high Aug.20) and then 1.3456 (high Feb.14).
EUR/USD gathering traction
US Durable Goods Orders contracted more than expected during July, dropping 7.3% vs. an expected dip of 3.0% and lower than June’s 3.9% advance. Stripping the Transportation sector, orders also disappointed investors, contracting 0.6% vs. the median at 0.6%. Next on tap will be the manufacturing index sponsored by the Dallas Fed (4.4 prev.).
EUR/USD significant levels
The pair is now up 0.02% at 1.3388 and a breakdown of 1.3342 (61.8% of 1.2754-1.3452) would target 1.3333 (MA10d) en route to 1.3297 (low Aug.22). On the upside, the initial barrier aligns at 1.3427 (high Aug.21) ahead of 1.3453 (high Aug.20) and then 1.3456 (high Feb.14).