EUR/USD little changed after US CPI

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 14, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    EUR/USD remained steady and barely reacted to the latest string of US data, which showed consumer inflation came in slightly below expectations while initial jobless claims dropped further last week.

    US consumer price index rose by 0.1% in March, missing expectations of a 0.2% increase, while excluding food and energy, the so-called core, grew 0.1% as well. On annual basis, CPI rose 0.9% (1.2% expected) and the core 2.2% (2.3% expected). Separated data showed, initial jobless claims fell by 14K to 253K in the week ended Apr 8.

    EUR/USD moved only marginally to the upside and it was last trading at 1.1263, still 0.08% below its opening price.

    EUR/USD levels to watch

    In terms of technical levels, next supports could be found at 1.1233 (Apr 14 low), 1.1178 (50-day SMA) and 1.1144 (Mar 24 low). On the other hand, resistances line up at 1.1305 (20-day SMA), 1.1390 (Apr 13 high), 1.1464 (2016 high, Apr 12) and 1.1494 (Oct 15 high).
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