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EUR/USD remains in range after US pending home sales data

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 30, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Córdoba) - The US dollar remained unchanged after the release of the US pending home sales that showed am unexpected decline. EUR/USD dropped to 1.0915 minutes before the release and now it was trading at 1.0925/30. The pair remained within today’s trading range between 1.0945 and 1.0910.

    Greenback is showing mix results across the board on another low volume session ahead of New Year, with prices in ranges in most FX crosses.

    According to the report from National Association of Realtors, pending home sales in the US dropped 0.9% in November, against market expectation of a 0.5% gain. Compared to a year ago, the index is up 2.7%.

    EUR/USD levels to watch

    In the short-term, a break above 1.0940/45 (upper limit of range and 100-hour MA) could open the doors to more daily gains while on the opposite direction, under 1.0920, the pair could drop to test the important area of 1.0900.

    On a wider perspective,e the pair continues to consolidate, limited to the upside by 1.1000 and the downside by the 20-day moving average that stands at 1.0900.
    For more information, read our latest forex news.
     

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