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EURUSD Fell To Lowest Since Nov; Dollar Fell on Durable Goods

by on July 25, 2014 2:27 pm GMT
 

EURUSD fell to the lowest since November after a measure of German business confidence declined more than economists forecast in July. Sweden’s krona advanced to a three-week high versus the euro as a report showed retail sales increased.

Demand for all durable goods — items meant to last at least three years — increased 0.7 percent versus a median forecast of 0.5 percent. The May reading was revised to show a 1 percent drop compared with a previously reported 0.9 percent decrease.

The dollar rose to the highest level in a month as demand for durable goods in the U.S. increased more than forecast in June, adding to signs the economy is gathering momentum.

The increase came with 0.4 percent this week after advancing 0.3 percent in the five days ended July 18, its first multi-week rally since May.

Bookings for non-military capital goods excluding aircraft climbed 1.4 percent after a 1.2 percent decrease in May that was previously reported as a 0.7 percent gain, data from the Commerce Department showed today in Washington.

EURUSD Pivot Levels Pivot Woodie Fibonacci
Resistance 3 1.3535 1.3535 1.351
Resistance 2 1.351 1.351 1.3492
Resistance 1 1.3488 1.3488 1.3481
Pivot 1.3463 1.3463 1.3463
Support 1 1.3441 1.3441 1.3445
Support 2 1.3416 1.3416 1.3434
Support 3 1.3394 1.3394 1.3416