EUR/USD remains weak and hits fresh daily lows, still above 1.1400

• Euro among worst performers of the last hours while greenback posts mix results.  
• US Data: Decline in consumer confidence, and home prices rise less than expected.  
• In Europe, UK Parliament will vote on Brexit while in the US the FOMC meeting is underway.  

The negative tone for EUR/USD remains in place as it holds near session lows, looking at 1.1400. It recently printed a fresh daily low at 1.1410.  

Earlier today the pair reached weekly highs at 1.1450 but then started a bearish correction. Still, EUR/USD is moving in a small range amid a cautious mood across financial markets. The US dollar is posting mix results.  

Traders await the outcome today of the Brexit vote at the UK Parliament and also tomorrow’s FOMC statement. The Fed started today it’s 2-day meeting. No change in monetary policy is expected, but a shift to a more dovish approach is seen.  

In the US data released today showed a decline in the CB Consumer Confidence Index to 120.2 in January from 126.6 while the S&P/Case-Shiller Home Price Index rose 4.7% from a year ago.  

EUR/USD levels to watch

To the downside, the immediate support is the 1.1400 level followed by 1.1380 (10-day moving average) and 1.1350 (Jan 18 & 23 low). On the upside, resistance could be seen at 1.1430 (20-hour moving average), followed by 1.1450 (Jan 29 high) and 1.1480.