28 Nov 2014
EUR/USD clings to 1.2450 post-data
FXStreet (Edinburgh) - The euro is now looking to bounce off recent lows after the CPI results in the euro area, lifting EUR/USD back to the mind-1.2400s.
EUR/USD more optimistic after CPI
The pair attempting to regain lost ground following in line results from the inflation figures in the euro bloc, with consumer prices advancing 0.3% on a yearly basis for the month of November; Core prices rose 0.7%, matching October’s print. Further data showed the unemployment rate stayed put at 11.5% during October, in line with market consensus. That was all data wise in the region, now leaving spot to the mercy of the risk trends and the USD dynamics.
EUR/USD levels to watch
As of writing the pair is down 0.17% at 1.2444 with the next support at 1.2402 (low Nov.25) followed by 1.2358 (2014 low Nov.7) and then 1.2342 (low Aug.21 2012). On the upside, a breakout of 1.2468 (high Nov.28) would target 1.2524 (high Nov.27) en route to 1.2532 (high Nov.26).
EUR/USD more optimistic after CPI
The pair attempting to regain lost ground following in line results from the inflation figures in the euro bloc, with consumer prices advancing 0.3% on a yearly basis for the month of November; Core prices rose 0.7%, matching October’s print. Further data showed the unemployment rate stayed put at 11.5% during October, in line with market consensus. That was all data wise in the region, now leaving spot to the mercy of the risk trends and the USD dynamics.
EUR/USD levels to watch
As of writing the pair is down 0.17% at 1.2444 with the next support at 1.2402 (low Nov.25) followed by 1.2358 (2014 low Nov.7) and then 1.2342 (low Aug.21 2012). On the upside, a breakout of 1.2468 (high Nov.28) would target 1.2524 (high Nov.27) en route to 1.2532 (high Nov.26).