28 Jun 2013
German CPI next: impact on EUR/USD
Fxstreet.com (Edinburgh) - Preliminary German consumer prices for the month of June are due next in the euro docket. Prior surveys expect the headline to grow at an annual pace of 1.7%, higher than May’s 1.5%. The HICP is also expected to come in higher at 1.8% on a yearly basis.
The single currency is now testing fresh highs in the boundaries of 1.3080 after bottoming out around 1.3040. Further up-barriers emerge at 1.3087 (high June 26th) followed by the psychological mark at 1.3100. On the opposite direction, initial support lies at 1.3000 (low June 27th) ahead of 1.2985 (low June 26th).
In the opinion of Valeria Bednarik, Currency Strategist at FXstreet.com, “Some profit taking on Friday, being the last day of the month and the quarter, may bring some upward momentum to the pair, although limited to the 1.3105 price zone”.
The single currency is now testing fresh highs in the boundaries of 1.3080 after bottoming out around 1.3040. Further up-barriers emerge at 1.3087 (high June 26th) followed by the psychological mark at 1.3100. On the opposite direction, initial support lies at 1.3000 (low June 27th) ahead of 1.2985 (low June 26th).
In the opinion of Valeria Bednarik, Currency Strategist at FXstreet.com, “Some profit taking on Friday, being the last day of the month and the quarter, may bring some upward momentum to the pair, although limited to the 1.3105 price zone”.