28 Nov 2014
EUR/USD depressed, near 1.2450
FXStreet (Edinburgh) - The single currency is marginally lower vs. the greenback on Friday, taking EUR/USD to the 1.2450/60 band so far.
EUR/USD all eyes on CPI
Auspicious readings from the German Retail Sales during October failed to ignite a wave of buying orders in the EUR, confining the pair to the 1.2450 neighbourhood. Ahead in the day, flash inflation figures tracked by the CPI in the euro area will grab all the attention, with consensus expecting consumer prices to have advanced at an annual pace of 0.3% for the current month, slightly below the previous 0.4% raise. Still in the EMU, the unemployment rate would remain intact at a still quite high 11.5% during October.
EUR/USD levels to watch
As of writing the pair is down 0.07% at 1.2458 with the next support at 1.2443 (low Nov.26) followed by 1.2402 (low Nov.25) and then 1.2358 (2014 low Nov.7). On the upside, a breakout of 1,2532 (high Nov.26) would open the door to 1.2550 (30-d MA) and finally 1.2569 (high Nov.21).
EUR/USD all eyes on CPI
Auspicious readings from the German Retail Sales during October failed to ignite a wave of buying orders in the EUR, confining the pair to the 1.2450 neighbourhood. Ahead in the day, flash inflation figures tracked by the CPI in the euro area will grab all the attention, with consensus expecting consumer prices to have advanced at an annual pace of 0.3% for the current month, slightly below the previous 0.4% raise. Still in the EMU, the unemployment rate would remain intact at a still quite high 11.5% during October.
EUR/USD levels to watch
As of writing the pair is down 0.07% at 1.2458 with the next support at 1.2443 (low Nov.26) followed by 1.2402 (low Nov.25) and then 1.2358 (2014 low Nov.7). On the upside, a breakout of 1,2532 (high Nov.26) would open the door to 1.2550 (30-d MA) and finally 1.2569 (high Nov.21).