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EUR/USD keeps 1.1000 on CPI

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 30, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - The common currency remains on an upbeat mood on Friday, with EUR/USD keeping the trade in the 1.1000 neighbourhood so far.

    EUR/USD unchanged on CPI

    The pair kept the composure after consumer prices in the euro bloc have matched expectations for the current month, coming in flat on a yearly basis. The more relevant Core print rose 1.0% YoY vs. forecasts at 0.9%. Further data saw the unemployment rate ticking lower to 10.8% during September vs. 11.0% expected and August’s 10.9%.

    Spot continues to rebound from recent troughs near 1.0900 the figure in the wake of the FOMC meeting, bolstered by USD-selling and month-end flows ahead of key releases in the US economy today: Personal Income/Spending, PCE and the Employment Cost Index.

    EUR/USD levels to watch

    As of writing the pair is advancing 0.17% at 1.0996 and a break above 1.1021 (76.4% Fibo of 1.0808-1.1713) would target 1.1111 (200-day sma) en route to 1.1160 (100-day sma). On the other hand, the initial support lines up at 1.0894 (low post-FOMC Oct.28) followed by 1.0847 (low Aug.5) and finally 1.0808 (low Jul.20).
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