OctaFX | OctaFX Forex Broker
Open trading account
Back

EUR/USD around 1.0640 on data

FXStreet (Edinburgh) - The European currency remained apathetic after the release of further US data today, with EUR/USD keeping the range near 1.0640.

EUR/USD ignores lower Consumer Confidence

Spot has shown no reaction after US releases have disappointed investors once again today. This time CB’s Consumer Confidence has deflated to 90.4 for the current month, missing expectations at 99.5. In addition, the Richmond Fed Manufacturing index has followed suit, down to -3 during the same period, coming in short of prior surveys and lower from October’s print.

In the meantime, the pair’s upside seems to be capped around the 1.0660/70 band for the time being, all against the backdrop of persistent USD-weakness.

EUR/USD levels to watch

As of writing the pair is up 0.11% at 1.0639 with the next hurdle at 1.0702 (accelerated downtrend from 1.1496) ahead of 1.0829 (high Nov.12) and finally 1.1062 (200-day sma). On the other hand, a breach of 1.0591 (low Nov.23) would target 1.0519 (low Apr.13) en route to 1.0456 (2015 low Mar.16).

United States Consumer Confidence came in at 90.4, below expectations (99.5) in November

United States Consumer Confidence came in at 90.4, below expectations (99.5) in November
Read more Previous

USD/CAD turns lower on oil’s rally

USD/CAD turned south and fell to fresh 4-day lows at the beginning of the New York session as oil prices got a boost, underpinning the loonie.
Read more Next
Start livechat