FXStreet (Edinburgh) – The shared currency remains entrenched in the red territory vs. the greenback on Wednesday, with EUR/USD hovering over the 1.0580 area.
EUR/USD paid little attention to data
The pair keeps the area of multi-month lows after US Durable Goods Orders have surprised investors to the upside during October, expanding 3.0% inter-month. Orders excluding the Transportations sector have followed suit, up 0.5% vs. expectations at 0.3%.
Further results saw Initial Claims coming down to 260K in the week ended on November 20, while Personal Income has risen 0.4% on a monthly basis in October and Personal Spending has just expanded 0.1%, missing consensus.
EUR/USD levels to watch
As of writing the pair is losing 0.60% at 1.0582 with the next support at 1.0519 (low Apr.13) en route to 1.0456 (2015 low Mar.16). On the upside, a breakout of 1.0805 (23.6% Fibo of 1.1496-1.0591) would open the door to 1.0829 (high Nov.12) and finally 1.1058 (200-day sma).
(Market News Provided by FXstreet)