EUR/USD keeps lows on German CPI

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 19, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The European currency keeps the soft note today, with EUR/USD hovering over session troughs around 1.0870.

    EUR/USD muted on German data

    Spot paid little-to-none attention to the release of the final figures for the German CPI during December, showing consumer prices matching the advanced prints and contracting 0.1% MoM and rising 0.3% over the last twelve months. The broader HICP rose 0.2% on a yearly basis and has come in flat inter-month.

    As markets get ready for the ZEW Survey, the offered tone remains firm around EUR in a context where the risk appetite is feeling more comfortable so far.

    EUR/USD levels to watch

    The pair is down 0.29% at 1.0867 and a break below 1.0798 (61.8% Fibo of 1.0538-1.1059) would aim for 1.0709 (low Jan.5) and then 1.0538 (low Dec.3). On the upside, the next hurdle aligns at 1.0987 (high Jan.15) followed by 1.0997 (100-day sma) ahead of 1.1059 (high Dec.15).
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