The shared currency extends its rebound from sub-1.1300 levels, pushing EUR/USD back to the 1.1320/25 band, or session highs.
EUR/USD focus on German CPI
Auspicious credit data from the euro area and a lower jobless rate in Germany are combining to sustain the current EUR upside, ahead of the preliminary release of German consumer prices. Prior surveys expect headline CPI to have contracted 0.1% during January, while the HICP would have followed suit, shrinking 0.2% inter-month.
Across the pond, the weekly report on the labour market plus Pending Home Sales will be the centre of attention in the data space.
EUR/USD levels to consider
The pair is now advancing 0.29% at 1.1322 with the next resistance at 1.1384 (high Jan.28) followed by 1.1410 (10-d MA) and then 1.1413 (200-h MA). On the flip side, a breakdown of 1.1260 (50% of 1.1098-1.1423) would target 1.1222 (61.8% of 1.1098-1.1423) en route to 1.1098 (11-year low jan.26).
EUR/USD focus on German CPI
Auspicious credit data from the euro area and a lower jobless rate in Germany are combining to sustain the current EUR upside, ahead of the preliminary release of German consumer prices. Prior surveys expect headline CPI to have contracted 0.1% during January, while the HICP would have followed suit, shrinking 0.2% inter-month.
Across the pond, the weekly report on the labour market plus Pending Home Sales will be the centre of attention in the data space.
EUR/USD levels to consider
The pair is now advancing 0.29% at 1.1322 with the next resistance at 1.1384 (high Jan.28) followed by 1.1410 (10-d MA) and then 1.1413 (200-h MA). On the flip side, a breakdown of 1.1260 (50% of 1.1098-1.1423) would target 1.1222 (61.8% of 1.1098-1.1423) en route to 1.1098 (11-year low jan.26).
