The
freshly released macro data from the USA washed out the great expectations for
the EUR/USD pair. The US durable goods orders are down with 1%, the initial
jobless claims has fallen by 3000 and the pending home sales increased with
only 1,5%.
Following those disappointing numbers, the pair
stepped downwards, passed below 1.09 level and marked intraday low at 1.0882.
If we take a look on movement this week, we’ll see that the pair is stuck
between 1.0950 and 1.0850 area. Meanwhile
the pair is currently placed below the 10, 50 and 200-day moving averaged,
which are acting as dynamic resistances.
The stochastic is showing oversold market and is currently at 23% level.
From
a short-term viewpoint supports are placed at 1.0874 (October 26 low), 1.0851
(Oct 25 low). Looking to the upside resistances are seen at 1.0946 (October 26
high) and the psychological level at 1.1000.
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