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4 Jan 2016
EUR/USD edges lower after German CPI
FXStreet (Córdoba) - EUR/USD remained pretty steady around 1.0900 following the release of softer-than-expected German inflation data.
The German Consumer price index, harmonized for the Eurozone, was flat in December versus a 0.2% increase expected and rose 0.2% YoY versus 0.4% of consensus.
The euro however, barely reacted to data, although it edged a few pips lower, sliding below the 1.0900 level to a low of 1.0885 in recent dealings. At time of writing, the pair is trading at 1.0890, still up 0.19% on the day.
EUR/USD levels to watch
In terms of technical levels, immediate supports are seen at 1.0837-26 (50-day SMA/Jan 4 low), 1.0795 (Dec 7 low) and 1.0700 (psychological level). On the flip side, next resistances could be found at 1.0990/93 (Dec 28 & 29 highs), 1.1010 (Dec 10 high), 1.1051-54 (100-day SMA/50-week SMA) and 1.1095 (Oct 28 high).
The German Consumer price index, harmonized for the Eurozone, was flat in December versus a 0.2% increase expected and rose 0.2% YoY versus 0.4% of consensus.
The euro however, barely reacted to data, although it edged a few pips lower, sliding below the 1.0900 level to a low of 1.0885 in recent dealings. At time of writing, the pair is trading at 1.0890, still up 0.19% on the day.
EUR/USD levels to watch
In terms of technical levels, immediate supports are seen at 1.0837-26 (50-day SMA/Jan 4 low), 1.0795 (Dec 7 low) and 1.0700 (psychological level). On the flip side, next resistances could be found at 1.0990/93 (Dec 28 & 29 highs), 1.1010 (Dec 10 high), 1.1051-54 (100-day SMA/50-week SMA) and 1.1095 (Oct 28 high).