EUR/USD Wobbles Near 1.1400 Ahead of German CPI

EUR/USD Wobbles Near 1.1400 Ahead of German CPI

12 April 2016, 07:36
Roberto Jacobs

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)

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