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EUR/USD keeps highs post-German CPI

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 30, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The European currency keeps its buoyant march today, taking EUR/USD above the key 1.3300 handle.

    EUR/USD muted on German data

    Spot is extending its upside momentum today after advanced German inflation figures have surpassed expectations for the current month, showing the CPI rose 0.3% on an annualized basis and 0.8% inter-month; the broader HICP has gained 0.1% YoY.

    Next of relevance will be US ADP Employment Change, with prior surveys expecting the private sector to have created nearly 200K jobs during last month.

    EUR/USD levels to watch

    The pair is now up 0.35% at 1.1333 facing the next resistance at 1.1344 (high Mar.17) ahead of 1.1378 (2016 high Feb.11) and then 1.1496 (monthly high Oct.15 2015). On the downside, a break below 1.1220 (23.6% Fibo of 1.0820-1.1344) would target 1.1156 (20-day sma) en route to 1.1041 (200-day sma).

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