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27 Feb 2014
EUR/USD immune to US data
FXStreet (Córdoba) - After a steep sell-off, the EUR/USD has managed to stabilize at the 1.3650/70 area immune to the latest round of Eurozone and US data.
The EUR/USD barely moved after a mixed bag of US data, where initial jobless claims unexpectedly rose to 348,000 last week versus 335,000 expected but durable goods orders fell 1.0%, less than the 1.5% decline expected. At time of writing, the EUR/USD is trading at the 1.3660 area, 0.2% below its opening price, having hit a 2-week low of 1.3642 during the European session.
EUR/USD technical levels
A breakdown of 1.3642 (Feb 27 low) would open the door to 1.3625 (50% of 1.3477-1.3773) and then 1.3585 (Feb 13 low). On the flip side, resistances line up at 1.3719 (10-day SMA) followed by 1.3757 (Feb 26 high) and then 1.3768 (Feb 25 high).
The EUR/USD barely moved after a mixed bag of US data, where initial jobless claims unexpectedly rose to 348,000 last week versus 335,000 expected but durable goods orders fell 1.0%, less than the 1.5% decline expected. At time of writing, the EUR/USD is trading at the 1.3660 area, 0.2% below its opening price, having hit a 2-week low of 1.3642 during the European session.
EUR/USD technical levels
A breakdown of 1.3642 (Feb 27 low) would open the door to 1.3625 (50% of 1.3477-1.3773) and then 1.3585 (Feb 13 low). On the flip side, resistances line up at 1.3719 (10-day SMA) followed by 1.3757 (Feb 26 high) and then 1.3768 (Feb 25 high).