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EUR/USD hits fresh 2014 lows after US data

FXStreet (Córdoba) - The EUR/USD fell to fresh year-to-date lows after the latest series of US inflation and housing data.

Although inflation figures were in line with expectations, housing starts jumped to the highest level in 8 months, indicating a pick up in building. Annual US consumer price index grew by 2.0% for the headline and 1.9% for the core in July, matching market’s expectations. Separated data showed housing starts rose 15.7% to 1.093 million in July versus 7.6% forecasted.

The dollar strengthened broadly and dragged the EUR/USD to fresh 2014 lows as stops were triggered. The pair rushed to a low of 1.3319 so far and it was last down 0.24% at 1.3330.

EUR/USD technical levels

As for technical levels, next supports are now seen at 1.3295 (Nov 7 2013 low), 1.3250 (mid-September 2013 lows) and 1.3230 (Sep 10 2013 low). On the flip side, resistances could be found at 1.3400 (psychological level), 1.3411/14 (Aug 13 & 15 highs) y 1.3432 (Aug 8 high).

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