EUR/USD stretches above 1.3500 after US Housing (Barcelona) – The Euro maintains its upside tone after a slight pullback to 1.3435 over the European session, and the pair squeezed higher following downbeat US housing figures, breaking above 1.3500 to reach a fresh 2-month high at 1.3535.

If the pair manages to hold above 1.3500, next resistance level might be at 1.3545 (intra-day level) and then 1.3575 (Nov 22 low). On the downside, immediate support lies at 1.3435 (intra-day support), and below here, 1.3400 (intra-day level) and below here, 1.3365 (session low).

US Housing starts have declined 4.3% in December to an annual rate of 529,000 units, against market expectations of an annual rate of about 550,000 units.


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