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EUR/USD rises above 1.2550 after US housing data

FXStreet (Córdoba) - EUR/USD pushed higher broke above the 1.2550 area, rising to fresh 2-day highs following slightly weaker than expected US housing data.

EUR/USD gathered momentum and climbed to a high of 1.2567, but stalled ahead of Monday’s peak in the absence of follow-through ahead of the FOMC meeting minutes release. At time of writing, EUR/USD is trading at 1.2560, recording a 0.20% gain on the day.

On the data front, US housing starts dropped 2.8% in October to an annual rate of 1.009 million from 1.038 million in September and below the 1.025 million expected.

EUR/USD technical levels

As for technical levels, 1.2576 (Nov 17 high) and 1.2600 (psychological level) stand as immediate resistances. On the other hand, supports are seen at 1.2511 (Nov 19 low), 1.2470 (10-day SMA) and 1.2442 (Nov 18 low).

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