EUR/USD fades the move to 1.1425, back near 1.1400

• Spot lost upside momentum near 1.1430.
• The greenback approaches 96.50, trades in session lows.
• US Durable Goods Orders contracted 4.4% MoM in October.

EUR/USD has now returned to the 1.1400 neighbourhood, shedding part of the earlier advance to session peaks near 1.1430.

EUR/USD bid after US data

The pair keeps the buying interest unchanged so far on Wednesday amidst alternating headlines from the Italian political scenario, where the latest news indicates that the EU could announce some kind of sanctions against Italy regarding the 2019 draft budget.

In the meantime, the greenback remains offered following rumours that the Fed could halt its tightening cycle at some point in the Spring 2019. This news fell in line with last weeks dovish comments from Fed’s VP R.Clarida, who noted that rates are close to the ‘neutral’ level.

In the data space, below-consensus data from US Durable Goods Orders and Initial Claims keep sustaining the selling bias surrounding the buck today.

Later in the session, US Exiasting Home Sales, the U-Mich index and the weekly report on US crude oil supplies will close the calendar ahead of tomorrow’s Thanksgiving Day holiday.

EUR/USD levels to watch

At the moment, the pair is gaining 0.28% at 1.1402 facing the next barrier at 1.1502 (high Nov.7) seconded by 1.1509 (55-day SMA) and finally 1.1555 (100-day SMA). On the flip side, a break below 1.1359 (low Nov.20) would target 1.1348 (10-day SMA) en route to 1.1214 (2018 low Nov.12).