EURUSD Consolidates With Upside Bias On Durable Goods Orders Data


The U.S Durable Goods Orders Data comes mixed today. Durable Goods Orders Data fell 7.3%, from 15.1% a month earlier, passing a forecast of 7.2% ( support USD). While Core Durable Goods Orders fell 3.3%, from 3.6% in the previous month, missing a forecast of 3.5% (support EUR).

EURUSD: The pair fell to 1.1735 ( daily chart support), printed support at 1.1735 levels. This development suggests a consolidation above 1.1735 levels. Anyway; stability above that level (hourly closing basis) will suggest further upside. Above 1.1763 (short-term resistance) will accelerate the bullish move to 1.1783 levels.

On the downside, sustained trading (hourly closing basis) below 1.1735 will suggest short-term topping and bring reversal to 1.1670 levels before the next move…

In conclusion: The EURUSD sees upside threats above 1.1735 levels…

Support: 1.1735, 1.1670, 1.1605, 1.1540, 1.1460

Resistance:1.1785, 1.1850, 1.1938, 1.1995, 1.2138

EURUSD Consolidates With Upside Bias On U S Durable Goods Orders Data 1