EUR/USD ignores US data

By FXstreet.com | Updated August 26, 2014 AAA

FXStreet (Córdoba) - The EUR/USD seems unable to pick up momentum and to abandon the 1.3200 area even after the release of stronger-than-expected US durable goods orders data.



Orders for US durable goods soared by a record 22.6% in July versus 7.5% rise expected. However, excluding transportation, orders declined 0.8% versus a rise of 0.5% forecasted. The EUR/USD was barely affected by data, and continued to trade within its daily range at the 1.3190 area, where it is little changed on the day.

EUR/USD technical outlook



“The overall outlook remains bearish below 1.3220 resistance, for a break through 1.3180, en route to 1.3090”, said Stoyan Mihaylov, analyst at Deltastock. “Crucial on the upside is 1.3298”.



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