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EUR/USD little changed ahead of European open

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 11, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Edinburgh) -The single currency keeps its daily range vs. the greenback on Friday, taking EUR/USD to the 1.0950/40 band so far.

    EUR/USD ignores German CPI

    German final CPI figures for the month of November passed largely unnoticed today, showing consumer prices tracked by the CPI have risen 0.4% on a yearly basis and 0.3% YoY when gauged by the broader HICP, matching the preliminary readings.

    In the meantime, spot keeps the consolidative pattern around the mid-1.0900s while the lack of direction continues to prevail in the global markets.

    In the data space, Retail Sales will take centre stage across the pond, seconded by the Consumer Sentiment gauged by the Reuters/Michigan index.

    EUR/USD levels to consider

    At the moment the pair is up 0.01% at 1.0948 facing the next hurdle at 1.0973 (55-day sma) followed by 1.1063 (high Dec.9) and then 1.1124 (61.8% Fibo of 1.1496-1.0524). On the other hand, a breach of 1.0895 (38.2% Fibo of 1.1496-1.0524) would aim for 1.0524 (low Dec.3) and finally 1.0519 (low Apr.13).

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