12 Dec 2013
EUR/USD falls on mixed US data
FXstreet.com (Córdoba) - The EUR/USD broke below the 1.3760 area and stretched to fresh daily lows at the beginning of the New York session following a mixed bag of US indicators.
While October retail sales grew 0.7% in October, exceeding expectations, US jobless claims rose more than expected to 368,000 in the week ending Dec 6 reaching the highest level in two months. The USD picked up momentum after the data and rose versus most competitors, dragging the EUR/USD to a low of 1.3749 in recent dealings. However, the decline paused ahead of yesterday's low of 1.3740 and the pair is currently trading at the 1.3760 area, still 0.2% below its opening price.
EUR/USD levels to watch
The 1.3740 area offers immediate support for the EUR/USD, followed by the 1.3700 psychological level and 1.3670 (10-day SMA). On the other hand, resistances line up at 1.3811 (Dec 11 high) and 1.3832 (this year high Oct 31) ahead of 1.3867 (Nov 9 2011 high).
While October retail sales grew 0.7% in October, exceeding expectations, US jobless claims rose more than expected to 368,000 in the week ending Dec 6 reaching the highest level in two months. The USD picked up momentum after the data and rose versus most competitors, dragging the EUR/USD to a low of 1.3749 in recent dealings. However, the decline paused ahead of yesterday's low of 1.3740 and the pair is currently trading at the 1.3760 area, still 0.2% below its opening price.
EUR/USD levels to watch
The 1.3740 area offers immediate support for the EUR/USD, followed by the 1.3700 psychological level and 1.3670 (10-day SMA). On the other hand, resistances line up at 1.3811 (Dec 11 high) and 1.3832 (this year high Oct 31) ahead of 1.3867 (Nov 9 2011 high).