#EURUSD @ 0.99723 -imp levels: is juggling in a 13-pip range as investors await US Durable Goods Orders data.

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• EUR/USD is juggling in a 13-pip range as investors await US Durable Goods Orders data.
• The US Durable Goods Orders data is likely to trim to 0.5% vs. 2%.
• A mixed German PMI helped EUR/USD in bottoming out after hitting a multi-year low of 0.9900.

The pair currently trades last at 0.99723.

The previous day high was 1.0047 while the previous day low was 0.9926. The daily 38.2% Fib levels comes at 0.9972, expected to provide support. Similarly, the daily 61.8% fib level is at 1.0001, expected to provide resistance.

The EUR/USD pair is displaying back and forth moves in a narrow range of 0.9959-0.9972 in the early Tokyo session. The asset has turned sideways after a mild correction from 1.0012 and is expected to continue its lackluster performance as investors are awaiting the release of the US Durable Goods Orders data.

On Tuesday, the asset printed a multi-year low near 0.9900 as the US dollar index (DXY) got strengthened. However, the release of mixed German Purchasing Managers Index (PMI) data helped the asset in bottoming out quickly. The German Manufacturing PMI improved to 49.8 from the expectations of 48.2 and the prior release of 49.3. However, the Services PMI contracted to 48.2 against the forecast of 49 and the former release of 49.9.

The shared currency bulls attempted to regain the territory above the magical figure of 1.0000 after the US dollar index (DXY) tumbled on poor US PMI data. The Services PMI contracted vigorously to 44.1 against the forecast of 49.2 and the prior release of 47.3. Also, the Manufacturing PMI landed lower to 51.3 vs. estimates of 52 and the prior release of 52.2.

The Eurozone bulls still have a chance to establish above the 1.0000 figure if US Durable Goods Orders also get contracted. As per the market consensus, the economic data is expected to slip to 0.6% against the former figure of 2%. In times, when the US economy has already displayed an unchanged US core Consumer Price Index (CPI), a decline in the economic data is not lucrative for the US dollar index (DXY).

Technical Levels: Supports and Resistances

EURUSD currently trading at 0.9969 at the time of writing. Pair opened at 0.9944 and is trading with a change of 0.25 % .

The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 1.0181, 50 SMA 1.0267, 100 SMA @ 1.0467 and 200 SMA @ 1.0854.

The previous day high was 1.0047 while the previous day low was 0.9926. The daily 38.2% Fib levels comes at 0.9972, expected to provide support. Similarly, the daily 61.8% fib level is at 1.0001, expected to provide resistance.

Note the levels of interest below:

• Pivot support is noted at 0.9898, 0.9852, 0.9777
• Pivot resistance is noted at 1.0018, 1.0093, 1.0139

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