EUR/USD slips to lows near 1.0870 ahead of 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
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    FXStreet (Edinburgh) - The single currency isnow losing the grip vs. its American peer, dragging EUR/USD to visit the area of daily lows near 1.0870.

    EUR/USD offered, German CPI eyed

    A fresh wave of risk appetite is hurting the common currency at the end of the Asian session on Tuesday, prompting spot to abandon the area above 1.0900 the figure and initiate a correction lower to the current 1.0880/70 band.

    Interesting session ahead for the pair, as German final CPI figures for the month of December are due, followed by EMU/German ZEW Survey and EMU’s inflation figures. Across the pond, the NAHB index and TIC flows are expected.

    EUR/USD levels to watch

    The pair is down 0.16% at 1.0880 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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