Date : 29th October 2014 EURUSD REVERSED ITS GAINS AND CONSOLIDATES AHEAD OF THE FOMC STATEMENT. EURUSD rose yesterday and closed at 1.2729. The United States dollar lost ground against its European counterpart after the Core Durable Goods Orders dropped -0.2 percent on a monthly basis in September. The Durable Goods Orders also recorded a drop of -1.3 percent on a monthly basis in September. However part of the losses were capped after the CB Consumer Confidence in the largest economy in the world hit a 7-year high level of 94.5 in October. Investors are now looking forward for the Core Durable Goods Orders and the CB Consumer Confidence releases due from the United States later today. Support for the EURUSD is seen at 1.2624 and resistance is seen at 1.2713. Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.