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EUR/USD ignores EMU’s CPI

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 16, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - The common currency is surrendering further gains vs. the greenback today, with EUR/USD testing lows near 1.0920.

    EUR/USD indifferent post-data

    Spot remained apathetic after consumer prices in the euro area have risen more than expected for the current month, up 0.2% YoY vs. 0.1% forecasted and November’s 0.1%. Core prices have gained 0.9% on a yearly basis, matching prior surveys.

    In the meantime, the pair is extending its daily decline towards the 1.0925/20 area amidst a cautious tone ahead of the crucial FOMC meeting due in the European evening.

    EUR/USD levels to consider

    At the moment the pair is up 0.03% at 1.0925 facing the next hurdle at 1.1060 (100-day sma) followed by 1.1124 (61.8% Fibo of 1.1496-1.0524) and then 1.1245 (downtrend from 1.1713). On the other hand, a breakdown of 1.0895 (38.2% Fibo of 1.1496-1.0524) would aim for 1.0808 (low Jul.20) and finally 1.0753 (23.6% Fibo of 1.1496-1.0524).
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