EUR/USD Keeps the Red on EMU’s CPI
EUR/USD
remained unchanged following the final CPI figures in the euro area for
the month of March, currently navigating the 1.1270 area.
EUR/USD now looks to US CPI
Spot
is attempting a rebound from earlier lows in the 1.1235/30 band, albeit
it still remains in the red territory near 1.1270 after EMU’s consumer
prices have come in flat on a yearly basis during March, bettering
forecasts for a 0.1% advance.
In the meantime, the demand for the
greenback remains on the rise, adding downside pressure to the pair and
limiting occasional bullish attempts.
Next of relevance in the
pair will be US inflation figures tracked by the CPI, expected to have
gained 0.2% MoM in March, seconded by Initial Claims.
EUR/USD levels to watch
The
pair is now down 0.07% at 1.1267 and a break below 1.1219 (38.2% Fibo
of 1.0820-1.1455) would open the door to 1.1163 (55-day sma) and finally
1.1142 (low Mar.24). On the flip side, the initial hurdle lines up at
1.1313 (23.6% Fibo of 1.0820-1.1455) followed by 1.1454 (2016 high
Apr.7) and then 1.1496 (monthly high Oct.15 2015).
News provided by: 
