17 Dec 2014
EUR/USD unimpressed by US data
FXStreet (Córdoba) - EUR/USD edged only a few pips higher but remained near daily lows after the latest string of US data showed fell more than expected in November.
Consumer price index dropped 0.3% in November versus a fall of 0.1% expected, while it grew 1.3% YoY missing expectations of 1.4%. Meanwhile, US current account deficit widened more than estimated, hitting 100.26 billion in Q3.
However, EUR/USD was barely affected by data and remains clinched to the 1.2460/70 zone, where it is 0.35% below its opening price as investors cautiously await the FOMC decision later today.
EUR/USD supports and resistances
As for technical levels, next supports are seen at 1.2414 (Dec 15 low), 1.2400 (psychological level) and 1.2370 (Dec 11 low). On the flip side, resistances could be found 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).
Consumer price index dropped 0.3% in November versus a fall of 0.1% expected, while it grew 1.3% YoY missing expectations of 1.4%. Meanwhile, US current account deficit widened more than estimated, hitting 100.26 billion in Q3.
However, EUR/USD was barely affected by data and remains clinched to the 1.2460/70 zone, where it is 0.35% below its opening price as investors cautiously await the FOMC decision later today.
EUR/USD supports and resistances
As for technical levels, next supports are seen at 1.2414 (Dec 15 low), 1.2400 (psychological level) and 1.2370 (Dec 11 low). On the flip side, resistances could be found 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).