EUR/USD – Trapped between 5-DMA and 10-DMA

EUR/USD pair has been restricted in Asia to a narrow range defined by 1.1223 (5-DMA) and 1.1205 (10-DMA) levels respectively.

Eyes Eurozone CPI and US personal spending report

EUR traders await preliminary estimate of the Eurozone CPI for September, which is expected to show cost of living ticked higher to 0.4% from 0.2%. Core CPI is seen rising 0.9% compared to previous month’s figure of 0.8%.

Across the pond, the US data is expected to show growth in personal spending and income slowed in August.

EUR/USD Technical Levels

Break above 1.1223 (5-DMA) would open doors for 1.1250 (previous day’s high) above which the spot could target 1.13 (zero figure). On the lower side, a breakdown of support at 1.12 could yield a slide to 1.1182 (100-DMA) under which 200-DMA support at 1.1158 stands exposed.