FXStreet (Córdoba) – EUR/USD came under renewed pressure and made fresh lows for the day following US durable goods orders and personal income/spending data.
Durable goods orders flat in November
Orders for durable goods were unchanged in November from a month earlier, beating expectations of a 0.7% decline. However, excluding the transportation orders fell 0.1% versus an increase of 0.1% expected.
Separated data showed personal spending rose 0.3% in November (0.3% exp) while personal incomes increased 0.3% last month (0.2% expected). The price index for personal consumption expenditures, Fed’s preferred inflation gauge, was flat in November and up 0.4% YoY, the largest increase of 2015.
EUR/USD dropped below 1.0900 level as the dollar strengthened slightly following data and posted a low of 1.0898. At time of writing, the pair is trading at 1.0900, down 0.50% on the day.
EUR/USD technical levels
As for technical levels, next supports are seen at 1.0883 (50-day SMA), 1.0795 (Dec 7 low), 1.0700 (psychological level) and 1.0635 (Dec 1 & 2 highs). On the other hand, resistances line up at 1.1010 (Dec 10 high), the 1.1055-66 area (100-day SMA/50-week SMA) and then 1.1095 (Oct 28 high).
(Market News Provided by FXstreet)