Meandering Ahead Of US Data

After posting a high of 1.4161 yesterday the EUR/USD currency pair went through a period of consolidation during the Asian session. We currently have prices bouncing from the daily pivot and a test of yesterday’s high may be in the picture for today.Action may be somewhat muted as traders await the US durable goods numbers coming at 12:30 GMT. Another factor may be firming in the US dollar due to carry trade action in the USD/JPY pair. Again we’ll wait for the data to give us direction today.