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EUR/USD around 1.1320 on German data

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 12, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - The single currency has paid little attention to German releases, with EUR/USD meandering the 1.1315/20 band for the time being.

    EUR/USD focus on EMU, US data

    The pair manages to keep the trade above the 1.1300 handle today, coming down from fresh multi-month peaks near 1.1380 posted during overnight trading. Furthermore, spot practically ignored the final CPI results for the month of January, with headline consumer prices contracting 0.8% MoM and advancing 0.5% on a yearly basis.

    Further data saw the preliminary Q4 GDP expanding 0.3% QoQ and 2.1% over the last twelve months. Next on tap will be EMU’s flash GDP figures, while Retail Sales and the Reuters/Michigan index will take centre stage later across the pond.

    EUR/USD levels to watch

    The pair is now retreating 0.05% at 1.1319 and a breach of 1.1056 (200-day sma) would open the door to 1.1022 (20-day sma) and finally 1.0930 (55-day sma). On the flip side, the next up barrier lines up at 1.1376 (high Feb.11) ahead of 1.1460 (monthly high Sep.18) and then 1.1496 (monthly high Oct.15).
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