EUR/USD off lows after mixed US data
The EUR/USD saw a short-lived bounce at the beginning of the New York session after the latest string of US data came in mixed.
While the US Markit services PMI came in stronger-than-expected in January, December’s new home sales disappointed and the Dallas Fed manufacturing index came in in line with forecast. The EUR/USD barely reacted to the data, moving off lows to an hourly high of 1.3675 where the 55-hour SMA halted the recovery.
EUR/USD flat on the day
At time of writing, the EUR/USD is trading at the 1.3665 area, virtually unchanged since opening. In terms of technical levels, the EUR/USD could find immediate resistances at 1.3678 (55-hour SMA), 1.3700 (psychological level) and 1.3716 (Jan 27 high). On the other hand, supports are seen at 1.3652 (Jan 27 low), 1.3640 (21-day SMA) and 1.3600 (psychological level).