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Forex pairs in this Article » EUR/USD (Edinburgh) - The EUR/USD now seems to be stabilizing around the 1.3550 area on Tuesday, ahead of the key US data due later.

EUR/USD consolidative in the mid 1.35s

The pair is showing sigs of resiliency at current levels while market participants are waiting for the key us housing data ahead of the US Consumer Confidence, where prior surveys expect 72.9 for the month of November, up from October’s 71.2. Strategists at TD Securities argued “ Fundamentally, we see little reason to be bullish on the EUR in a broader sense, and short term rate spreads continue to point to a spot rate for EUR/USD that would be more consistent near 1.32; however, we do acknowledge the seasonal pattern in recent years that has tended toward a higher EUR into December”.

EUR/USD key levels

The pair is now advancing 0.22% at 1.3551 with the next resistance at 1.3575 (MA30d) ahead of 1.3584 (high Nov.20) and finally 1.3589 (high Nov.1). On the downside, a break below 1.3504 (MA10d) would bring 1.3490 (low Nov.25) followed by 1.3463 (low Nov.22).
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