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Forex pairs in this Article » EUR/USD (Edinburgh) - Quite choppy session for EUR traders on Tuesday, now driving the EUR/USD back to the red territory around 1.3660.

EUR/USD directionless after mixed US data

Poor US Durable Goods Orders during December propelled the pair to the vicinity of 1.3690, although the bull run lacked conviction to follow through that barrier – which was already tested early morning in Europe. Later upside surprise from US Consumer Confidence gave oxygen to the greenback, dragging the pair lower. Regarding the poor figures from Durable Goods Orders, Analyst James Knightley at ING, concluded “Overall, this report suggests that some caution is warranted regarding the US growth story and we remain content to be somewhat sub-consensus on GDP growth, predicting a 4Q figure of 2.9% on Thursday”.

EUR/USD levels to consider

At the moment the pair is down 0.10% at 1.3658 with the immediate support at 1.3615 (10-d MA) ahead of 1.3564 (daily cloud base) and then 1.3530 (low Jan.23). On the upside, a break above1.3716 (high Jan.27) would open the door to 1.3740 (high Jan.24) ahead of 1.3776 (2014 high Jan.2).
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