EUR/USD flirting with highs post-US Durable Goods

EUR/USD kept the composure following results in the US docket today, hovering over the area of daily highs around 1.0580/90.

EUR/USD muted on data

Spot stayed apathetic after US Durable Goods Orders expanded at a monthly 1.8% during January, surpassing initial estimates. Orders stripping the Transportation sector have contracted 0.2% (most since June), coming in short of expectations.

The bid tone around EUR remains well and sound for the time being amidst an erratic performance from the greenback, although the US Dollar Index is so far managing well to keep business above the critical 101.00 support.

Data wise today, advanced Spanish inflation figures expect the CPI to rise at an annualized 3.0% in February, a tad below estimates. Further data saw Private Loans expanding 2.2% YoY in January and M3 Money Supply rising 4.9% YoY during the same period.

Across the pond, Pending Home Sales and the Dallas Fed index are up next along with the speech by Dallas Fed R.Kaplan (voter, hawkish).

From the speculative community, EUR stays under pressure, as net shorts have climbed to 5-week tops in the week to February 21 according to the latest CFTC report.

EUR/USD levels to watch

At the moment the pair is up 0.25% at 1.0587 facing the initial hurdle at 1.0592 (55-day sma) followed by 1.0620 (high Feb.24) and finally 1.0651 (20-day sma). On the flip side, a breach of 1.0492 (low Feb.22) would target 1.0452 (low Jan.11) en route to 1.0339 (2017 low Jan.3).