17 Dec 2014
EUR/USD steady after CPI
FXStreet (Córdoba) - EUR/USD remained little changed after the release of in line with expectations Eurozone consumer price index numbers.
Data showed consumer prices dropped 0.2% in November but rose 0.3% compared to the same month in 2013, while the core CPI, which excludes food and energy, climbed 0.7%. Figures were broadly in line with expectations.
Euro was barely affected by data and continued to trade 0.39% lower on the day at 1.2460. Investors remain cautious and refrain from taking big positions amid emerging countries concerns and ahead of the Federal Reserve monetary policy decision.
EUR/USD levels to watch
As for technical levels, EUR/USD could found immediate supports at 1.2414 (Dec 15 low), 1.2400 (psychological level) and 1.2370 (Dec 11 low). On the other hand, resistances are seen at 1.2530 (50-day SMA), the 1.2570/75 area (Dec 16 & Nov 20 highs) and then 1.2600 (psychological level/Nov 19 high).
Data showed consumer prices dropped 0.2% in November but rose 0.3% compared to the same month in 2013, while the core CPI, which excludes food and energy, climbed 0.7%. Figures were broadly in line with expectations.
Euro was barely affected by data and continued to trade 0.39% lower on the day at 1.2460. Investors remain cautious and refrain from taking big positions amid emerging countries concerns and ahead of the Federal Reserve monetary policy decision.
EUR/USD levels to watch
As for technical levels, EUR/USD could found immediate supports at 1.2414 (Dec 15 low), 1.2400 (psychological level) and 1.2370 (Dec 11 low). On the other hand, resistances are seen at 1.2530 (50-day SMA), the 1.2570/75 area (Dec 16 & Nov 20 highs) and then 1.2600 (psychological level/Nov 19 high).