16 Jan 2015
EUR/USD waiting for data below 1.1650
FXStreet (Edinburgh) - The single currency is extending the overnight consolidation patter, taking EUR/USD to the area of 1.1635/40 so far.
EUR/USD focus on German, EMU data
The pair will soon face its first test: the German final release of consumer prices for the month of December, with consensus expecting the CPI to have risen at an annual pace of 0.2%, quite lower than the previous 0.6% advance. “EUR touched a fresh 10-year low of 1.1567. Despite the rebound from the low, the down-move appears incomplete. Expect high volatility but as long as 1.1700 were to cap, a retest of the overnight low is likely”, suggested analysts at UOB Group.
EUR/USD key levels
At the moment the pair is up 0.20% at 1.1642 with the initial resistance at 1.1792 (high Jan.15) ahead of 1.1845 (10-d MA) and finally 1.1871 (high Jan.12). On the downside, a breach of 1.1568 (2015 low Jan.15) would aim for 1.1505 (low Nov.12 2003) and then 1.1445 (low Nov.11 2003).
EUR/USD focus on German, EMU data
The pair will soon face its first test: the German final release of consumer prices for the month of December, with consensus expecting the CPI to have risen at an annual pace of 0.2%, quite lower than the previous 0.6% advance. “EUR touched a fresh 10-year low of 1.1567. Despite the rebound from the low, the down-move appears incomplete. Expect high volatility but as long as 1.1700 were to cap, a retest of the overnight low is likely”, suggested analysts at UOB Group.
EUR/USD key levels
At the moment the pair is up 0.20% at 1.1642 with the initial resistance at 1.1792 (high Jan.15) ahead of 1.1845 (10-d MA) and finally 1.1871 (high Jan.12). On the downside, a breach of 1.1568 (2015 low Jan.15) would aim for 1.1505 (low Nov.12 2003) and then 1.1445 (low Nov.11 2003).