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6 Jan 2015
EUR/USD little changed after US data
FXStreet (Córdoba) - EUR/USD inched up a few pips above 1.1900 following the release of a series of disappointing US data.
November factory orders dropped by 0.7% versus a fall of 0.5% expected while December ISM non-manufacturing PMI fell to 56.2 from 59.3 the previous month and below the 58.2 expected. Still readings above 50.0 implies the sector is expanding.
The US dollar weakened slightly on the back of below-expectations data but remained broadly unchanged. As for EUR/USD, the pair reached a session high of 1.1932 but lacked follow through. At time of writing, EUR/USD is trading at 1.1915, still down 0.15% on the day.
EUR/USD technical levels
In terms of technical levels, immediate resistances line up at 1.1932 (hourly high), 1.1975 (Jan 5 high) and 1.2000 (psychological level). On the other hand, supports could be found at 1.1860 (9-year low Jan 5 low),1.1826 (Feb 27 2006 low) and 1.1800 (psychological level).
November factory orders dropped by 0.7% versus a fall of 0.5% expected while December ISM non-manufacturing PMI fell to 56.2 from 59.3 the previous month and below the 58.2 expected. Still readings above 50.0 implies the sector is expanding.
The US dollar weakened slightly on the back of below-expectations data but remained broadly unchanged. As for EUR/USD, the pair reached a session high of 1.1932 but lacked follow through. At time of writing, EUR/USD is trading at 1.1915, still down 0.15% on the day.
EUR/USD technical levels
In terms of technical levels, immediate resistances line up at 1.1932 (hourly high), 1.1975 (Jan 5 high) and 1.2000 (psychological level). On the other hand, supports could be found at 1.1860 (9-year low Jan 5 low),1.1826 (Feb 27 2006 low) and 1.1800 (psychological level).