Forex: EUR/USD back to lows, around 1.3280/90

FXstreet.com (Barcelona) - The pessimism surrounding the single currency is accentuating on Tuesday, as we head for the last part of the European trading session. The risk appetite failed to prop up today’s upside of EUR/USD, dying off in the vicinity of 1.3370, and falling since then to the current levels around 1.3290, halfway to January’s first half lows around 1.3250

The market did not react to the poor data out the housing sector in the US either, where Existing Home Sales contracted 1.0% on a monthly basis during December, or falling to 4.94 million vs. November’s 4.99 million.

As of writing, the cross is down 0.17% at 1.3290
Next support levels line up at 1.3267 (low Jan.22) followed by 1.3257 (low Jan.160 and then 1.3248 (low Jan.11).
On the upside, a break above 1.3372 (high Jan.22) would open the door to 1.3398 (high Jan.18) and finally 1.3404 (high 2013, Jan.14).

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