FXStreet (Edinburgh) – The offered tone remains intact around the dollar on Tuesday, with EUR/USD hovering over the 1.1200 handle.
EUR/USD muted on poor US data
The pair keeps the range despite US Durable Goods Orders disappointed markets during the month of May, contracting 1.8% inter-month vs. forecasts for a 0.5% contraction. Orders excluding the Transportation sector have expanded 0.5% on a monthly basis vs. 0.6% initially anticipated.
Next of relevance in the US calendar will be New Home Sales (525K exp.) and the flash print of the manufacturing PMI gauged by Markit.
EUR/USD levels to consider
As of writing the pair is down 1.49% at 1.1170 with the next support at 1.1151 (low Jun.12) followed by 1.1087 (low Jun.8) and then 1.1049 (low Jun.5). On the other hand, a breakout of 1.1349 (high Jun.23) would open the door to 1.1404 (high Jun.22) and finally 1.1421 (high Jun.18).
(Market News Provided by FXstreet)