Investing.com - The euro slid off two-hear highs against the dollar on Monday after data revealed that output at U.S. factories, mines and utilities beat expectations in September.
In U.S. trading on Monday, EUR/USD was down 0.14% at 1.3785, up from a session low of 1.3776 and off from a high of 1.3818.
The pair was likely to find support at 1.3652, the low from Oct. 21, and resistance at 1.3833, Friday's high.
The Federal Reserve reported on Monday that U.S. industrial production rose by a 0.6% last month, above expectations for a 0.4% rise and the fastest increase in seven months.
The news gave the dollar some support, though investors remained cautious ahead of the Fed's upcoming policy meeting later in the week.
A string of disappointing economic reports has cemented expectations that the central bank will maintain the current pace of its USD85 billion in monthly asset purchases into early next year.
Asset purchases aim to spur recovery by driving down long-term borrowing costs, weakening the dollar in the process.
Still, the upbeat industrial output number gave investors some hope that sooner or later, the Fed will begin to taper the pace of its stimulus program, which would give the dollar support afterwards.
Elsewhere, industry data revealed that U.S. pending home sales fell 5.6% last month, down for the fourth consecutive month and well below market calls for a gain of 0.1%, which capped the dollar's advance somewhat.
The euro, meanwhile, was up against the pound and up against the yen, with EUR/GBP trading up 0.06% at 0.8543 and EUR/JPY trading up 0.17% at 134.69.
In U.S. trading on Monday, EUR/USD was down 0.14% at 1.3785, up from a session low of 1.3776 and off from a high of 1.3818.
The pair was likely to find support at 1.3652, the low from Oct. 21, and resistance at 1.3833, Friday's high.
The Federal Reserve reported on Monday that U.S. industrial production rose by a 0.6% last month, above expectations for a 0.4% rise and the fastest increase in seven months.
The news gave the dollar some support, though investors remained cautious ahead of the Fed's upcoming policy meeting later in the week.
A string of disappointing economic reports has cemented expectations that the central bank will maintain the current pace of its USD85 billion in monthly asset purchases into early next year.
Asset purchases aim to spur recovery by driving down long-term borrowing costs, weakening the dollar in the process.
Still, the upbeat industrial output number gave investors some hope that sooner or later, the Fed will begin to taper the pace of its stimulus program, which would give the dollar support afterwards.
Elsewhere, industry data revealed that U.S. pending home sales fell 5.6% last month, down for the fourth consecutive month and well below market calls for a gain of 0.1%, which capped the dollar's advance somewhat.
The euro, meanwhile, was up against the pound and up against the yen, with EUR/GBP trading up 0.06% at 0.8543 and EUR/JPY trading up 0.17% at 134.69.