15 Nov 2013
EUR/USD falls to fresh lows after inflation data
FXstreet.com (Córdoba) - The EUR/USD retreated to fresh daily lows during the European session after the Eurozone annual CPI fell to its lowest in 4 years.
The Eurozone inflation rate fell to 0.7% in October, mainly in line with expectations but printing its lowest since November 2009. The EUR/USD slid to a low of 1.3430 but found support at the 100-hour SMA and bounced slightly. At time of writing, EUR/USD is trading at the 1.3445 area, still 0.1% below its opening price.
EUR/USD levels to watch
In terms of technical levels, immediate supports for EUR/USD could be found at 1.3430 (100-hour SMA) and 1.3417 (Nov 15 low) ahead of 1.3400 (psychological level). On the upside, resistances are seen at 1.3463 (daily high) and 1.3497 (Nov 14 high).
The Eurozone inflation rate fell to 0.7% in October, mainly in line with expectations but printing its lowest since November 2009. The EUR/USD slid to a low of 1.3430 but found support at the 100-hour SMA and bounced slightly. At time of writing, EUR/USD is trading at the 1.3445 area, still 0.1% below its opening price.
EUR/USD levels to watch
In terms of technical levels, immediate supports for EUR/USD could be found at 1.3430 (100-hour SMA) and 1.3417 (Nov 15 low) ahead of 1.3400 (psychological level). On the upside, resistances are seen at 1.3463 (daily high) and 1.3497 (Nov 14 high).