EUR/USD pulls back after US data

Ani Salama FXStreet

EUR/USD pulled back from daily highs and cut early gains as the dollar strengthened despite a series of below expectations US data.

After hitting a daily peak of 1.0929, EUR/USD gave up a few pips but the downside was contained by the 1.0910 zone, keeping the pair near recent highs. At time of writing, EUR/USD is trading at 1.0920, 0.13% above its opening price.

On the data front, US durable goods order fell 0.1% to $227.3 billion in September from a month earlier, below the 0.1% increase expected. Separated data showed, initial jobless claims decreased by 3,000 to a seasonally adjusted 258,000 in the week ended Oct. 21 against 255,000 expected.

EUR/USD technical levels

In terms of technical levels, short-term supports are seen at 1.0873 (Oct 26 low), 1.0850 (Oct 25 low) and 1.0821 (Oct 3 low). On the flip side, resistances line up at 1.0932 (10-day SMA), 1.1000/04 (psychological level/Oct 19 high) and 1.1038 (Oct 20 high).

Author

Ani Salama

FXStreet

Ani Salama is an Economist specialized in financial markets and statistics analysis. In 2010, she joined FXstreet where she now contributes with the news section.

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