Back
25 Jun 2013
EUR/USD falls to support after upbeat US consumer confidence
FXstreet.com (New York) - The EUR/USD foreign exchange rate fallen below the 1.3100 level during US trading, hurt by the release of upbeat US data Tuesday that dragged the pair towards support.
EUR/USD situated at support
At the time of writing, the EUR/USD is trading at 1.3080, losing -0.32% thus far Tuesday. Mataf.net analysts postulate the next short-term measures of support at 1.3075, then 1.3025, and 1.2990. Meanwhile, resistance lies ahead at 1.3160, onto 1.3195 and 1.3245.
In the United States, Consumer Confidence (June) came in at 81.4, beating a projection of 75.4. Moreover, New Home Sales (MoM) were reported at 0.476M in May, against expectations of 0.462M. Finally, the New Home Sales Change (MoM) grew +2.1% in May, compared with a figure of +2.3% previously.
EUR/USD consolidating around its 200-day MA
According to Karen Jones, an analyst at Commerzbank, “The EUR/USD has sold off to and is consolidating at the 200-day MA. We would allow for a small rebound from here, but look for the rebound to be relatively tepid, failing circa 1.3170/1.3250 – we maintain a negative stance.”
EUR/USD situated at support
At the time of writing, the EUR/USD is trading at 1.3080, losing -0.32% thus far Tuesday. Mataf.net analysts postulate the next short-term measures of support at 1.3075, then 1.3025, and 1.2990. Meanwhile, resistance lies ahead at 1.3160, onto 1.3195 and 1.3245.
In the United States, Consumer Confidence (June) came in at 81.4, beating a projection of 75.4. Moreover, New Home Sales (MoM) were reported at 0.476M in May, against expectations of 0.462M. Finally, the New Home Sales Change (MoM) grew +2.1% in May, compared with a figure of +2.3% previously.
EUR/USD consolidating around its 200-day MA
According to Karen Jones, an analyst at Commerzbank, “The EUR/USD has sold off to and is consolidating at the 200-day MA. We would allow for a small rebound from here, but look for the rebound to be relatively tepid, failing circa 1.3170/1.3250 – we maintain a negative stance.”