27 May 2014
EUR/USD extends losses after US durable goods
FXStreet (Córdoba) - The EUR/USD fell to fresh daily lows and turned intraday negative after US durable goods orders for April came stronger than expected.
The dollar received a boost across the board after data showed orders for durable goods rose a seasonally adjusted 0.8% from March according to the US Commerce Department, beating expectations of a 0.5% decline. Excluding transportation, durable-goods orders rose 0.1% in April but excluding defense (the main contributor to April’s rise), orders fell 0.8%.
The EUR/USD is currently trading at 1.3633, recording a 0.07% loss on the day, having hit a low of 1.3625 right after data was released. The US calendar remain loaded for the rest of the day with indicators such as consumer confidence, housing price index, services PMI and manufacturing index from Dallas and Richmond Fed.
EUR/USD levels to watch
In terms of technical levels, next supports for EUR/USD are seen at 1.3625 (May 27 low), 1.3613 (May 26 low) and 1.3600 (psychological level). On the other hand, resistances could be found at 1.3668 (May 27 high), 1.3678 (10-day SMA, 1.3687 (May 22 high) and 1.3700 (psychological level).
The dollar received a boost across the board after data showed orders for durable goods rose a seasonally adjusted 0.8% from March according to the US Commerce Department, beating expectations of a 0.5% decline. Excluding transportation, durable-goods orders rose 0.1% in April but excluding defense (the main contributor to April’s rise), orders fell 0.8%.
The EUR/USD is currently trading at 1.3633, recording a 0.07% loss on the day, having hit a low of 1.3625 right after data was released. The US calendar remain loaded for the rest of the day with indicators such as consumer confidence, housing price index, services PMI and manufacturing index from Dallas and Richmond Fed.
EUR/USD levels to watch
In terms of technical levels, next supports for EUR/USD are seen at 1.3625 (May 27 low), 1.3613 (May 26 low) and 1.3600 (psychological level). On the other hand, resistances could be found at 1.3668 (May 27 high), 1.3678 (10-day SMA, 1.3687 (May 22 high) and 1.3700 (psychological level).