17 Dec 2014
EUR/USD dips below 1.25 ahead of the Eurozone CPI data
FXStreet (Mumbai) - The single currency weakened below 1.25 levels against the greenback ahead of the release of the final Eurozone CPI figure for November.
The EUR/USD pair currently trades 0.20% lower at 1.2486 levels, compared to the previous session’s close of 1.2511 levels. A slight recovery in the US treasury yields has helped the US dollar gain strength. Investors will watch out for the final Eurozone CPI print for November, which is expected to confirm inflation faced by households at an initial estimate of 0.3% year-on-year.
Meanwhile, caution is expected ahead of the Federal Reserve policy statement, which is widely expected to show a change in language with regards to the in the interest rates in the US. The US CPI data is also due for release later today.
EUR/USD Technical Levels
The pair has an immediate support located at 1.2454 (5-DMA), under which losses could be extended to 1.2408 (10-DMA). Meanwhile, resistance is seen at 1.2531 (50-DMA) and 1.2571 levels.
The EUR/USD pair currently trades 0.20% lower at 1.2486 levels, compared to the previous session’s close of 1.2511 levels. A slight recovery in the US treasury yields has helped the US dollar gain strength. Investors will watch out for the final Eurozone CPI print for November, which is expected to confirm inflation faced by households at an initial estimate of 0.3% year-on-year.
Meanwhile, caution is expected ahead of the Federal Reserve policy statement, which is widely expected to show a change in language with regards to the in the interest rates in the US. The US CPI data is also due for release later today.
EUR/USD Technical Levels
The pair has an immediate support located at 1.2454 (5-DMA), under which losses could be extended to 1.2408 (10-DMA). Meanwhile, resistance is seen at 1.2531 (50-DMA) and 1.2571 levels.