EUR/USD stays bid, around 1.2330 post-US data
|- The pair remains parked in the 1.2330 for the time being.
- US Building Permits and Housing Starts missed expectations in February.
- Next on tap will be US Industrial/Manufacturing Production, U-Mich.
EUR/USD stayed apathetic following the release of data from the US housing sector and is far keeping the trade around the 1.2330 region.
EUR/USD muted on data
Spot paid little-to-nil attention to the US docket so far today, where Building Permits and Housing Starts failed to meet initial market expectations, coming in at 1.298 million units (or -5.7%) and 1.236 million units (or -7.0%) during last month, respectively.
In the meantime, spot navigates a tight range with gains limited ahead of 1.2340 and decent support emerging in the sub-1.2300 region seen during early trade. The rangebound theme, however, remains well and sound for the time being.
Later in the NA session February’s Industrial Production, Manufacturing Production and Capacity Utilization will precede the flash reading of the Reuters/Michigan index.
EUR/USD levels to watch
At the moment, the pair is gaining 0.13% at 1.2321 and a break above 1.2446 (high Mar.8) would target 1.2537 (high Jan.25) en route to 1.2557 (2018 high Feb.18). On the flip side, the next support aligns at 1.2273 (low Mar.9) seconded by 1.2206 (low Feb.9) and finally 1.2165 (low Jan.18).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.