Investing.com – The euro erased earlier losses against the U.S. dollar on Wednesday, rebounding from a daily low after worse-than-expected U.S. manufacturing data.
EUR/USD hit 1.3026 during European afternoon trade, gaining 0.23%, after rebounding from a daily low of 1.2968.
The pair was likely to find support at 1.2875, the low of July 26, and resistance at 1.3094 the high of May 10.
Earlier in the day, the U.S. Census Bureau said core durable goods orders declined by a seasonally adjusted 0.6% in June, after rising by a revised 1.6% in May.
Analysts had expected core durable goods orders rise 0.6% in June.
The euro was also up against the pound with EUR/GBP gaining 0.06% to hit 0.8339.
Later in the day, the U.S. Federal Reserve was set to release its Beige Book, a summary of the information the bank uses when setting the benchmark interest rate.
EUR/USD hit 1.3026 during European afternoon trade, gaining 0.23%, after rebounding from a daily low of 1.2968.
The pair was likely to find support at 1.2875, the low of July 26, and resistance at 1.3094 the high of May 10.
Earlier in the day, the U.S. Census Bureau said core durable goods orders declined by a seasonally adjusted 0.6% in June, after rising by a revised 1.6% in May.
Analysts had expected core durable goods orders rise 0.6% in June.
The euro was also up against the pound with EUR/GBP gaining 0.06% to hit 0.8339.
Later in the day, the U.S. Federal Reserve was set to release its Beige Book, a summary of the information the bank uses when setting the benchmark interest rate.