Scared investors hit the selloff button and the EUR/USD fell to 1.3210 low. The NY session saw released new updates of the US new home sales and consumer confidence. US new home sales came in a little lower than the expected 0.378M by rising from 0.361M (revised from 0.368M) to 0.377M in October, meaning a 4.4% since September. Consumer confidence fell from 75.1 (revised from 73.7) to 65.1, coming much lower than the expected 70.3.
“EUR/USD has broken the strong resistance at 1.3172 (17/09/2012 high) and has, thus far, successfully tested the hourly support at 1.3144 (17/12/2012 low)”, wrote MIG Bank analyst Bijoy Kar, monitoring the test of the recent high at 1.3308 (19/12/2012 high).