26 Aug 2015
EUR/USD breaks below 1.13 on US data
FXStreet (Edinburgh) - The European currency keeps depreciating vs. the dollar on Wednesday, now sending EUR/USD to test session lows in the 1.1360 area.
EUR/USD weaker post-data
The pair has found renewed downside pressure after US Durable Goods Orders expanded above expectations during July 2% on a monthly basis, vs. forecasts for a 0.4% contraction. Orders excluding the Transportation sector also followed suit, up 0.6% inter-month.
Spot accelerated the daily decline in the wake of the release, while market participants now wait for the speech by Fed’s W.Dudley due later.
EUR/USD key levels
At the moment the pair is retreating 1.38% at 1.1357 with the next support at 1.1300 (psychological level) ahead of 1.1240 (low Aug.21) and finally 1.1107 (low Aug.20). On the flip side, a breakout of 1.1562 (high Aug.26) would target 1.1714 (high Aug.24) en route to 1.1786 (high Jan.15).
EUR/USD weaker post-data
The pair has found renewed downside pressure after US Durable Goods Orders expanded above expectations during July 2% on a monthly basis, vs. forecasts for a 0.4% contraction. Orders excluding the Transportation sector also followed suit, up 0.6% inter-month.
Spot accelerated the daily decline in the wake of the release, while market participants now wait for the speech by Fed’s W.Dudley due later.
EUR/USD key levels
At the moment the pair is retreating 1.38% at 1.1357 with the next support at 1.1300 (psychological level) ahead of 1.1240 (low Aug.21) and finally 1.1107 (low Aug.20). On the flip side, a breakout of 1.1562 (high Aug.26) would target 1.1714 (high Aug.24) en route to 1.1786 (high Jan.15).