- EUR/USD fails to recover the 1.2100 zone.
- US: House prices and consumer confidence above expectations.
The EUR/USD peaked at 1.2092 hours ago and then pulled back. It is hovering around 1.2075/80, modestly lower for the day. The euro is also falling versus the Swiss franc and the pound.
The US Dollar is posting mixed results with the DXY at 90.85. US yields are modesty higher. The 10-year yield stands at 1.59%, supporting the greenback. Economic data came in better than expected. The Conference Board’s consumer confidence index climbed to the highest in a year at 121.7 and the S&P/Case-Shiller index rose 11.9% in January from a year ago.
The EUR/USD is holding above the 1.2075, the 20-hour moving average; a break lower would turn the intraday outlook to negative, exposing the daily low around 1.2055. On the upside, a break above 1.2100 would strengthen the euro that could extend the move for a test of the weekly top at 1.2110.
