EUR/USD hit fresh two-year lows at 1.2165 before retracing to 1.2186, down 0.35% for the day.In a revised report, the University of Michigan said its consumer sentiment index ticked down to 93.6 this month from a reading of 93.8 in November. Analysts expected the index to fall to 93.1 in December.The University of Michigan also said its inflation expectations for the next 12 months slipped to 2.8% in December from 2.9% the previous month.Separately, the U.S. Census Bureau said new home sales fell 1.6% last month to 438,000 units from a revised total of 445,000 units in October. .Data also showed that U.S. personal spending rose 0.6% in November, exceeding expectations for a 0.5% gain. U.S.Personal spending rose 0.3% in October, whose figure was revised from a previously estimated 0.2% uptick.
INTRADAY OUTLOOK
Support: 1.2163
Resistance: 1.2206
RECOMMENDATION:
1. Buy EUR/USD Above 1.2210-TG:1.2230/1.2260 SL 1.2180
2. Sell EUR/USD Below 1.2160-TG:1.2140/1.2110 SL 1.2190
INTRADAY OUTLOOK
Immediate Support: 1.5525
Immediate Resistance: 1.5577
RECOMMENDATION:
1. Buy GBP/USD Above 1.5580-TG:1.5600/1.5630 SL 1.5550
2. Sell GBP/USD Below 1.5523-TG:1.5503/1.5473 SL 1.5553
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