EUR/USD leaps to 1.1820 on US data, new 3-day highs


  • EUR/USD quickly reverses the initial pessimism and regains 1.1800.
  • US Durable Goods Orders came in short of expectations in June.
  • US CB’s Consumer Confidence, housing data come up next.

Fresh sellers now hit the dollar and propels EUR/USD back above 1.1800 the figure to record new multi-day highs around 1.1820.

EUR/USD stays bid ahead of further US data

EUR/USD now adds to Monday’s gains above the 1.1800 yardstick following the fresh bout of selling pressure hitting the dollar.

Indeed, the buck saw its offered note picking up extra pace after US headline Durable Goods Orders expanded at a monthly 0.8% in June, while orders excluding the Transport sector expanded at 0.3% from a month earlier, both readings coming in well below previous estimates.

Further data saw house prices tracked by the FHFA’s House Price Index rising 1.7% MoM in May, while the S&P/Case-Shiller Index increased 17.0% over the last twelve months.

EUR/USD levels to watch

So far, spot is up 0.14% at 1.1818 and faces the next up barrier at 1.1830 (weekly high Jul.22) followed by 1.1895 (weekly high Jul.6) and finally 1.1975 (weekly high Jun.25). On the other hand, a breakdown of 1.1751 (monthly low Jul.21) would target 1.1704 (2021 low Mar.31) en route to 1.1602 (November 2020 low).

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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

How do emotions affect trade?
Follow up our daily analysts guidance

Subscribe Today!    

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD: Focus on two-month-old support near 1.1750

EUR/USD remains pressured around three-week lows, consolidate the biggest daily fall in a month. Firmer Momentum back-up to the south-run, 50-DMA break favor sellers.

EUR/USD News

GBP/USD: Bulls and bears will battle this out near the 61.8% golden ratio

The GBP/USD price has corrected 50% of the hourly bearish impulse. The bulls have been chipping away as profits are taken with bears moving aside one by one. This has resulted in a slow decelerating correction from which could attract sellers again. 

GBP/USD News

EUR/USD: Focus on two-month-old support near 1.1750

EUR/USD remains pressured around three-week lows, consolidate the biggest daily fall in a month. Firmer Momentum back-up to the south-run, 50-DMA break favor sellers.

EUR/USD News

Ethereum Classic Price Prediction: ETC coils up for 40% upswing

Ethereum Classic price shows choppy action as it approaches the lower trendline of an ascending parallel channel. The $52.92 support floor is likely to be tagged before a 40% upswing originates. A decisive close below $48.41 will create a lower low, invaldiating the bullish thesis.

Read more

US Michigan Consumer Sentiment Preview: Markets will have to look hard for positive signs

Consumer outlook expected to rebound to 72.2 in September. August’s 70.2 was the lowest since December 2011. Inflation and Delta variant wearing on US optimism. Markets face negative dollar risk from fading consumer optimism.

Read more

Forex MAJORS

Cryptocurrencies

Signatures