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26 Feb 2015
EUR/USD hits 1-month low
FXStreet (Córdoba) - EUR/USD plummeted at the beginning of the New York session as strong durable goods orders and core CPI figures in the US triggered a dollar rally across the board.
EUR/USD, which was already on the defensive, accelerated losses and lost nearly 100 pips within the last hour, piercing several support levels to hit a 1-month low of 1.1209 in recent dealings. At time of writing, the pair is trading at 1.1220, recording a 1.23% loss on the day.
Even though January US consumer prices declined more than expected, core figures beat expectations rising by 0.2% MoM and 1.6% YoY. Meanwhile, durable goods orders bounced strongly in January after 2 months of falls, rising 2.8% versus 1.7% expected. On the other hand, initial jobless claims rose to 313K last week versus 290K of consensus.
EUR/USD levels to watch
As for technical levels, EUR/USD could find next supports at 1.1200 (psychological level) and not much until 1.1097 (11-year low Jan 26). On the flip side, resistances in case of bounces are seen at 1.1270 (former support zone) and 1.1355 (21-day SMA) ahead of 1.1379 (daily high).
EUR/USD, which was already on the defensive, accelerated losses and lost nearly 100 pips within the last hour, piercing several support levels to hit a 1-month low of 1.1209 in recent dealings. At time of writing, the pair is trading at 1.1220, recording a 1.23% loss on the day.
Even though January US consumer prices declined more than expected, core figures beat expectations rising by 0.2% MoM and 1.6% YoY. Meanwhile, durable goods orders bounced strongly in January after 2 months of falls, rising 2.8% versus 1.7% expected. On the other hand, initial jobless claims rose to 313K last week versus 290K of consensus.
EUR/USD levels to watch
As for technical levels, EUR/USD could find next supports at 1.1200 (psychological level) and not much until 1.1097 (11-year low Jan 26). On the flip side, resistances in case of bounces are seen at 1.1270 (former support zone) and 1.1355 (21-day SMA) ahead of 1.1379 (daily high).