FXstreet.com (Barcelona) - EUR/USD has risen more than 50 pips in the first minutes after the better than expected US durable goods orders data was released, the pair has risen from 1.3465, before data, to 1.3518. Currently, the pair is trading around 1.3500/10.
Feb Durable goods orders climbed up 3.4% against the 2.2% decreases expected. Ex transportation, Durable goods orders rise 3.9% between January and February, against 2.2% expectations too.
According to Valeria Bednarik, FXstreet.com Collaborator, market is preparing to fight a rough battle along the American session: USD Durable Goods Orders print a 3.4% far better than the -2.3% expected or the previous month revision of -7.3%. Core Durable Goods Orders also came out positive at 3.9% against the expected -2.0%. An unexpected rise here, despite previous month down deeply revision with the largest increase since December 2007.This should turn Wall Street quite positive today, so major's first spike was against greenback. Market is preparing to fight a rough battle, as mentioned at the opening today, between a stronger dollar or positive stocks.
According to the Mataf.net team, the EUR/USD is in a consolidation movement: EUR/USD is in an uptrend supported by 4H exponential moving averages. EUR/USD is in a consolidation after the last bullish movement. The volatility decreases. Bollinger bands are tightened. 4H ForexSto (Modified Stochastic) indicate a bearish pressure on EUR USD. The price should find a support above 1,3420 (54 pips). The consolidation should continue. If the support breaks then the target will be 1,3100 (374 pips).