EUR/USD Wobbles Near 1.1400 Ahead of German CPI
The single currency is trading almost unchanged vs. the greenback today, with EUR/USD hovering over the 1.1400 handle ahead of German data.
EUR/USD attention to German releases, Fedspeak
The
weakness around the greenback seems to be taking a breather after
yesterday’s sell off, prompting spot to fade the spike to the
mid-1.1400s and return to the current 1.1405/10 band ahead of the
opening bell in Euroland and against the backdrop of a mild sentiment
towards the riskier assets.
In the data space, final German
inflation figures for the month of March are expected to match the
preliminary readings, while the US dollar will take centre stage later
following speeches by Harker, Williams and Lacker.
EUR/USD levels to watch
The
pair is now up 0.01% at 1.1408 and a break above 1.1454 (2016 high
Apr.7) would target 1.1496 (monthly high Oct.15 2015) en route to 1.1713
(high Aug.24 2015). On the other hand, the next support lines up at
1.1325 (low Apr.6) ahead of 1.1305 (23.6% Fibo of 1.0820-1.1455) and
finally 1.1160 (55-day sma).
(Market News Provided by FXstreet)
