EUR/USD unmotivated near 1.0950, German CPI eyed

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

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - EUR/USD is trading directionless following the Asian session on Friday, hovering over the mid-1.0900s ahead of German CPI.

    EUR/USD focus on Germany, US data

    The pair seems to have stabilized following yesterday’s drop to the 1.0950 region ahead of the final November CPI figures in Germany, with consumer prices expected to have gained 0.4% YoY and 0.3% YoY when tracked by the broader HICP.

    Spot has recently surpassed the psychological 1.10 barrier, although it shed around a cent in response to a better tone in the greenback during the second part of the week.

    Other than German CPI, US Retail Sales will take centre stage ahead of Producer Prices and the Reuters/Michigan index.

    EUR/USD levels to consider

    At the moment the pair is losing 0.02% at 1.0944 and a break below 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). On the flip side, the next hurdle lines up 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).
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