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22 May 2015
EUR/USD drops near 1.1110 on US CPI
FXStreet (Edinburgh) - The common currency has given away most of its initial gains following the US inflation figures, with EUR/USD dipping to the 1.1110 area.
EUR/USD softer post-US releases
The pair retreated to the area around 1.1110 after US headline consumer prices rose 0.1% MoM and contracted 0.2% on a year to April; the more relevant Core prices surpassed estimates advancing 0.3% inter-month (vs. 0.2% forecasted) and 1.8% on a yearly basis vs. 1.7% anticipated.
Spot came down from the boundaries of 1.1180 to the 1.1110 band in the wake of the data, fading the spike to levels just above 1.1200 the figure.
EUR/USD levels to consider
As of writing the pair is up 0.04% at 1.1114 and a breakout of 1.1209 (high May 22) would aim for 1.1217 (38.2% of 1.1468-1.1062) and then 1.1244 (10-d MA). On the flip side, the immediate support lines up at 1.1100 (low May 22) ahead of 1.1062 (low May 20) and finally 1.0994 (50% of 1.0521-1.1468).
EUR/USD softer post-US releases
The pair retreated to the area around 1.1110 after US headline consumer prices rose 0.1% MoM and contracted 0.2% on a year to April; the more relevant Core prices surpassed estimates advancing 0.3% inter-month (vs. 0.2% forecasted) and 1.8% on a yearly basis vs. 1.7% anticipated.
Spot came down from the boundaries of 1.1180 to the 1.1110 band in the wake of the data, fading the spike to levels just above 1.1200 the figure.
EUR/USD levels to consider
As of writing the pair is up 0.04% at 1.1114 and a breakout of 1.1209 (high May 22) would aim for 1.1217 (38.2% of 1.1468-1.1062) and then 1.1244 (10-d MA). On the flip side, the immediate support lines up at 1.1100 (low May 22) ahead of 1.1062 (low May 20) and finally 1.0994 (50% of 1.0521-1.1468).