24 Jul 2015
EUR/USD off lows after US new home sales
FXStreet (Córdoba) - EUR/USD moved a few pips off daily lows as the dollar weakened slightly following the release of below-expectations US housing data.
US new home sales fell 6.8% to a 482,000 annualized pace in June, missing expectations of 546,000 and printing the weakest level since November. Separated data showed Markit manufacturing PMI preliminary for July rose to 53.8 versus 53.6 expected.
The greenback dropped a few pips weighed by the data, with EUR/USD climbing to a session high 1.0967. However, data failed to trigger lasting moves as attention now turns to a busy week ahead with the FOMC monetary policy decision on tap.
EUR/USD technical levels
At time of writing, EUR/USD is trading at 1.0958, still 0.23% its opening price, with immediate resistances lining up at 1.1000 (psychological level/100-day SMA), 1.1017 (Jul 23 high) and 1.1035 (Jul 15 high). On the flip side, supports are seen at 1.0925/21 (Jul 24 & 23 low), 1.0900 (psychological level) and 1.0869 (Jul 22 low).
US new home sales fell 6.8% to a 482,000 annualized pace in June, missing expectations of 546,000 and printing the weakest level since November. Separated data showed Markit manufacturing PMI preliminary for July rose to 53.8 versus 53.6 expected.
The greenback dropped a few pips weighed by the data, with EUR/USD climbing to a session high 1.0967. However, data failed to trigger lasting moves as attention now turns to a busy week ahead with the FOMC monetary policy decision on tap.
EUR/USD technical levels
At time of writing, EUR/USD is trading at 1.0958, still 0.23% its opening price, with immediate resistances lining up at 1.1000 (psychological level/100-day SMA), 1.1017 (Jul 23 high) and 1.1035 (Jul 15 high). On the flip side, supports are seen at 1.0925/21 (Jul 24 & 23 low), 1.0900 (psychological level) and 1.0869 (Jul 22 low).