Technically, the 100 hour MA remains a support level
The EURUSDs initial reaction is higher on the data and the comments from Draghi. Durable goods headline came in weaker at 1.0% vs 3.0% expected. The Cap goods shipments non defense ex air was higher at 1.0% vs 0.4%. The goods deficit showed more deterioration. The US claims were about as expected. Draghi says economy is moving along on a solid path.
The EURUSD moved higher initially with the price moving up from a low of 1.1700 to a high of 1.1730. At the low, the price tested the 100 hour MA at 1.1703. The 1.17000 is a natural level of support as well. A move below would be more bearish for the pair going forward. We currently trade at 1.1708.
Should the 100 hour MA be broken, the 200 hour MA will be eyed at 1.1683 (green line). THis week, the price has moved below those levels but could not sustain momentum. Yesterday, the price stalled just ahead of the 50% retracement at 1.16617.
On the topside, the 1.1743-49 is home to highs from July 17, July 23 and today. The high from July 11 comes in at 1.17574. Those are upside targets. The rise off the low fell well short of that level on the initial run and the price came back down.