The shared currency is slipping back to the area around 1.3085/90 after US durable goods orders contracted more than forecasted to 5.2% during January, vs. -4.4% estimated and +3.7% previous (revised). Excluding the Transportation sector, orders advanced 1.9%, surpassing the median.
Next on tap in the US would be Pending Home Sales ahead of ECB’s Draghi’s speech.
At the moment, the cross is up 0.21% at 1.3088 and a break above of 1.3125 (MA100d) would bring 1.3319 (high Feb.25) and then 1.3371 (MA21d). On the flipside, a breakdown of 1.3019 (low Feb.26) would aim for 1.2998 (low Jan.4) and finally 1.2996 (low Dec.12).