30 Jul 2013
German CPI next: impact on EUR/USD
FXstreet.com (Edinburgh) -Germany will release its advanced figures for the consumer prices during July. Prior surveys expect the headline CPI to increase at an annual rate of 1.8%, matching June’s print. The Harmonised CPI is expected a tad lower at 1.8% from 1.9%.
The bloc currency is challenging session highs in the area of 1.3275/80 on Tuesday ahead of the event. Key levels to watch in the wake of the release would be 1.3300 the figure as the initial up barrier, followed by 1.3325 (low June 18th). On the opposite hand, downside impulse would first test today’s lows in the mid 1.32s ahead of Monday’s low at 1.3239.
“In the 4 hours chart 20 SMA held the downside, as indicators stand flat above their midlines, reflecting the lack of direction the pair has, ahead of both Central Banks meetings later this week”, commented Valeria Bednarik, Currency Strategist at FXstreet.com.
The bloc currency is challenging session highs in the area of 1.3275/80 on Tuesday ahead of the event. Key levels to watch in the wake of the release would be 1.3300 the figure as the initial up barrier, followed by 1.3325 (low June 18th). On the opposite hand, downside impulse would first test today’s lows in the mid 1.32s ahead of Monday’s low at 1.3239.
“In the 4 hours chart 20 SMA held the downside, as indicators stand flat above their midlines, reflecting the lack of direction the pair has, ahead of both Central Banks meetings later this week”, commented Valeria Bednarik, Currency Strategist at FXstreet.com.