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EUR/USD  has edged lower on Wednesday, as the pair  trades  just shy of  the 1.38 line in the  European session. In economic news, German Consumer Climate remains at high levels and matched the forecast. In the US, Tuesday’s numbers were a mix. Consumer Confidence hit a six-year high, but New Home Sales slipped in February. Wednesday’s key release is Core Durable Goods Orders. The markets are expecting a much smaller gain than in the previous release.

Here is a quick update on the technical situation, indicators, and market sentiment that moves euro/dollar.

EUR/USD Technical

  • EUR/USD  edged lower  in the Asian session, closing close to the 1.38 line.  The  pair is unchanged in European trading.

Current range: 1.3740 to 1.38.

Further levels in both directions:       EURUSD Daily Forecast Mar.26th

 

  • Below: 1.3740, 1.37, 1.3650 and 1.3560, 1.3515 and 13450.
  • Above: 1.38, 1.3895, 1.3940, and 1.40
  • 1.3740 is the new important support line. The round number of 1.37 follows.
  • 1.38 has  switched to a resistance line. It is under strong pressure.

EUR/USD Fundamentals

  • 7:00 GfK German  Consumer Climate. Exp. 8.5, actual  8.5 points.
  • 9:00 Italian Retail Sales. Exp. 0.4%, Actual 0.0%.
  • 12:30 US Core Durable Goods Orders. Exp. 0.3%.
  • 12:30 US Durable Goods Orders. Exp. 1.1%.
  • 13:45 US Flash Services PMI. Exp. 54.2 points.
  • 14:30 US Crude Oil Inventories. Exp. 2.9M.
  • 20:30 US Bank Stress Results.

*All times are GMT For more events and lines, see the  Euro to dollar forecast.

EUR/USD Sentiment