14 Jul 2015
EUR/USD drops to 1.0965 after German data
FXStreet (Mumbai) - The EUR/USD pair fell to a low of 1.0965 after the German data showed the cost of living contracted in June.
EUR/USD trades below 50% Fib levels
The pair fell below 1.0994 (50% Fib R of Apr-May rally) after having failed to rise above 1.10 levels after German data. The German CPI fell 0.1% month-on-month as expected in June. Year-on-year, the CPI printed in line with the expectations at 0.3%. However, the common currency showed little interest towards the negative inflation print.
Ahead in the day, the German Zew survey and EUR industrial production figure die due for release. Greek banter could also influence the pair. The latest reports say Greek PM may step down after Wednesday’s deal vote.
EUR/USD Technical Levels
The pair currently trades around 1.0970. The immediate support is seen at 1.0955 (June 28 low) and 1.0916 (July 7 low). On the other hand, resistance is seen at 1.0994-1.10 and 1.1044 (100-DMA).
EUR/USD trades below 50% Fib levels
The pair fell below 1.0994 (50% Fib R of Apr-May rally) after having failed to rise above 1.10 levels after German data. The German CPI fell 0.1% month-on-month as expected in June. Year-on-year, the CPI printed in line with the expectations at 0.3%. However, the common currency showed little interest towards the negative inflation print.
Ahead in the day, the German Zew survey and EUR industrial production figure die due for release. Greek banter could also influence the pair. The latest reports say Greek PM may step down after Wednesday’s deal vote.
EUR/USD Technical Levels
The pair currently trades around 1.0970. The immediate support is seen at 1.0955 (June 28 low) and 1.0916 (July 7 low). On the other hand, resistance is seen at 1.0994-1.10 and 1.1044 (100-DMA).