The EUR/USD it is up about 20 pips after the release of better than expected US personal income and expense data. The pair has moved towards 1.2155, new two-day high, and at the time of writing it is trading around 1.2152, gaining 0.22% daily.
Improving US data boosts sentiment
Americans’ personal income rose 0.6% in December, outpacing the estimated 0.1% increase. This is the first monthly rise after two consecutive months of declines.
Personal expenses showed a result of -0.2%, improving the expected -0.4% and the previous -0.7%. In addition, the core CPI for personal consumption expenditure grew 1.5% compared to the 1.3% forecast.
The DXY index that measures the US dollar has fallen after the data, falling back to 90.36, its lowest level since January 27.
Traders are now expecting the release of the Chicago PMI and the University of Michigan consumer sentiment index for January, and pending US home sales for the month of December.
EUR / USD levels
The next resistance in case of a further rise awaits at 1.2176, January 26 high, followed by 1.2222, January 13 high.
To the downside, the first support appears at 1.2053, the bottom of January 18. A break would point to 1.2000, and lower to the 1.1925 / 30 zone, where the lows of November 30 and December 1, 2020 are.
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