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28 May 2015
EUR/USD back to square one, immune to data
FXStreet (Córdoba) - EUR/USD continues to hover around the 1.0900 level, with the latest series of US data having little impact on the pair.
US pending home sales increased by 3.4% in April to reach a 9-year high. This was the fourth consecutive monthly rise and was much higher than the 0.9% expected. Pending home sales also rose 14% from a year earlier.
On the other hand, separated data showed US initial claims rose by 7,000 to 282,000 in the week ending May 23, above the 270,000 expected.
However, EUR/USD reacted only briefly but overall continued to trade within its recent range. Having posted a daily high of 1.0950 and a low of 1.0867, the pair is currently trading at the 1.0905 area, virtually unchanged on the day.
Meanwhile, on the Greek front headlines coming from the G7 suggest Greece is still far apart from its creditors.
EUR/USD technical levels
In terms of technical levels, immediate supports are seen at 1.0867 (daily low), 1.0819 (May 27 low) and 1.0800 (psychological level). On the upside, resistances could be found at 1.0950 (daily high), 1.0980 (May 26 high) and 1.1000 (psychological level).
US pending home sales increased by 3.4% in April to reach a 9-year high. This was the fourth consecutive monthly rise and was much higher than the 0.9% expected. Pending home sales also rose 14% from a year earlier.
On the other hand, separated data showed US initial claims rose by 7,000 to 282,000 in the week ending May 23, above the 270,000 expected.
However, EUR/USD reacted only briefly but overall continued to trade within its recent range. Having posted a daily high of 1.0950 and a low of 1.0867, the pair is currently trading at the 1.0905 area, virtually unchanged on the day.
Meanwhile, on the Greek front headlines coming from the G7 suggest Greece is still far apart from its creditors.
EUR/USD technical levels
In terms of technical levels, immediate supports are seen at 1.0867 (daily low), 1.0819 (May 27 low) and 1.0800 (psychological level). On the upside, resistances could be found at 1.0950 (daily high), 1.0980 (May 26 high) and 1.1000 (psychological level).