29 Nov 2013
EUR/USD muted after CPI data
FXstreet.com (Edinburgh) - The euro remained mostly apathetic after the EMU inflation and unemployment data, with the EUR/USD keeping the composure neat 1.3610/15.
EUR/USD muted on better CPI
The pair returned above the 1.3600 handle after a brief knee-jerk to 1.3595 in the wake of the key releases from the EMU: preliminary headline consumer prices rose above estimates 0.9% on a yearly basis while the Core print rose 1.0%. The unemployment rate also surprised investors, ticking lower to 12.1% vs. September’s 12.2%. “EUR-USD upside in the near term continues to show a healthy restraint and the pair may remain capped at 1.3650 with the 55-day MA (1.3554) expected to support on dips”, suggested Emmanuel Ng, Strategist at OCBC Bank.
EUR/USD significant levels
As of writing, the pair is up 0.04% at 1.3612 with the next resistance at 1.3619 (high Nov.28) ahead of 1.3628 (61.8% of 1.3833-1.3295) and then 1.3647 (daily cloud top). On the downside, a break below 1.3564 (low Nov.28) would aim for 1.3558 (low Nov.27) and finally 1.3529 (MA10d).
EUR/USD muted on better CPI
The pair returned above the 1.3600 handle after a brief knee-jerk to 1.3595 in the wake of the key releases from the EMU: preliminary headline consumer prices rose above estimates 0.9% on a yearly basis while the Core print rose 1.0%. The unemployment rate also surprised investors, ticking lower to 12.1% vs. September’s 12.2%. “EUR-USD upside in the near term continues to show a healthy restraint and the pair may remain capped at 1.3650 with the 55-day MA (1.3554) expected to support on dips”, suggested Emmanuel Ng, Strategist at OCBC Bank.
EUR/USD significant levels
As of writing, the pair is up 0.04% at 1.3612 with the next resistance at 1.3619 (high Nov.28) ahead of 1.3628 (61.8% of 1.3833-1.3295) and then 1.3647 (daily cloud top). On the downside, a break below 1.3564 (low Nov.28) would aim for 1.3558 (low Nov.27) and finally 1.3529 (MA10d).