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US dollar little changed versus euro after CPI data

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 15, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Córdoba) - EUR/USD edged a few pips down and made marginal new lows for the day following the release of US consumer price index.

    US inflation gauged by the consumer price index was flat in November after rising a 0.2% in the previous month while excluding the volatile food and energy categories, so called core CPI rose 0.2%, the same pace of growth as in October and September.

    EUR/USD briefly dipped to a low of 1.0983 but quickly returned to pre-data levels. At time of writing, the pair is trading at 1.0993, virtually unchanged on the day.

    The euro rose to test the 100-day SMA resistance at 1.1059 during the European session, but lacked momentum to break above and turned down, erasing daily gains.

    EUR/USD technical levels

    On the upside, immediate resistances are seen at 1.1059 (Dec 15 high/100-day SMA), 1.1100 (psychological level) and 1.1139 (Oct 23 high). On the other hand, supports line up at 1.0944 (50-day SMA/Dec 14 low), 1.0925 (Dec 11 & 10 lows) and 1.0878 (Dec 9 low).

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