Forex: EUR/USD rallies 100 pips on US session, at 1.3175

FXstreet.com (Barcelona) - The EUR/USD was able to move rapidly from 1.3075 to 1.3175 high on the back of the New York opening, with rising interest on the EUR against the greenback in the last day of April, on the publication of US data and ahead of tomorrow’s FOMC meeting and the ECB on Thursday. US consumer confidence is at its highest in 2013, beating expectations.

The Conference Board has reported a much better than expected consumer confidence in April, with an improvement from 61.9 (revised from 59.7) to 68.1, instead of a move to 60.8 as expected. The April Chicago PMI has dropped below the 50.0 threshold, from 52.4 to 49.0, instead of rising to 52.5 as expected. According to the S&P/Case-Shiller Home Prices Indices, housing prices have risen by 9.3% in February, beating market consensus of 9.0% and increasing the rising pace from last month’s 8.1%.

“Another resistance can be found at 1.3202 (16/04/2013 high). An hourly support is at 1.3032 (intraday low). Another support lies at 1.2962 (08/04/2013 low)”, wrote MIG Bank analysts Bijoy Kar and Luc Luyet.