EUR/USD ignores US data, near 1.1280

EUR/USD kept the composure following US releases, currently testing the 1.1285/80 band.

EUR/USD muted post-data

The pair has deflated from earlier tops near 1.1300 the figure after US Durable Goods Orders have come in on the strong side during July, expanding at a monthly 4.4% and 1.5% excluding the Transportation sector, all surpassing initial estimates.

Further data saw Initial Claims following suit, increasing to 261K in the week ended on August 19 and taking the 4-Week Average to 264.00K from 265.25K.

Next of relevance will be Markit’s advanced Services PMI for the current month, while markets have already shifted their focus to Friday’s speech by Chair J.Yellen and US Q2 GDP figures.

EUR/USD levels to watch

The pair is now up 0.16% at 1.1282 and a breakout of 1.1357 (high Aug.23) would aim for 1.1434 (high Jun.24) and finally 1.1466 (high Apr.12). On the other hand, the immediate support aligns at 1.1242 (low Aug.24) followed by 1.1228 (2014-2016 support line) and finally 1.1179 (38.2% Fibo of May-June drop).