EUR/USD eyes 1.3400 on poor Durable Goods Orders

FXstreet.com (Edinburgh) – The bloc currency reverted the initial negative trend on Monday, lifting the EUR/USD closer to the 1.3400 handle on miserable data from US Durable Goods Orders.

EUR/USD gathering traction

US Durable Goods Orders contracted more than expected during July, dropping 7.3% vs. an expected dip of 3.0% and lower than June’s 3.9% advance. Stripping the Transportation sector, orders also disappointed investors, contracting 0.6% vs. the median at 0.6%. Next on tap will be the manufacturing index sponsored by the Dallas Fed (4.4 prev.).

EUR/USD significant levels

The pair is now up 0.02% at 1.3388 and a breakdown of 1.3342 (61.8% …read more