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25 Jun 2013
EUR/USD in fresh lows around 1.3060
Fxstreet.com (Edinburgh) - The weakness surrounding the shared currency is intensifying on Tuesday, dragging the EUR/USD to test fresh intraday lows in the vicinity of 1.3060.
EUR/USD hit by US data
Better-than-expected data from the US economy revived the recent USD rally, as Durable Goods Orders, New Home Sales and the Consumer Confidence all beaten expectations. Further data also showed an annual increase of 12.1% of the S&P/Case-Shiller Home Price indices in April. “Interim rebounds should struggle to regain 1.3200-50 and then be followed by another frustrating slide through 1.3000 in a position flipping decline to test 1.2700 within the context of a broader 1.25-1.37 range”, suggested Tim Riddell, Head of Global Markets Research.
EUR/USD tech levels
At the moment, the pair is retreating 0.28% at 1.3082 with the next support at 1.3059 (low Jun.24) followed by 1.3053 (low Jun.5) and then 1.3043 (low Jun.4). On the flip side, a breakout of 1.3151 (high Jun.25) would expose 1.3161 (low Jun.20) and finally 1.3177 (low Jun.10).
EUR/USD hit by US data
Better-than-expected data from the US economy revived the recent USD rally, as Durable Goods Orders, New Home Sales and the Consumer Confidence all beaten expectations. Further data also showed an annual increase of 12.1% of the S&P/Case-Shiller Home Price indices in April. “Interim rebounds should struggle to regain 1.3200-50 and then be followed by another frustrating slide through 1.3000 in a position flipping decline to test 1.2700 within the context of a broader 1.25-1.37 range”, suggested Tim Riddell, Head of Global Markets Research.
EUR/USD tech levels
At the moment, the pair is retreating 0.28% at 1.3082 with the next support at 1.3059 (low Jun.24) followed by 1.3053 (low Jun.5) and then 1.3043 (low Jun.4). On the flip side, a breakout of 1.3151 (high Jun.25) would expose 1.3161 (low Jun.20) and finally 1.3177 (low Jun.10).