EUR/USD Clings to 1.1350 After German Inflation Data
EUR/USD continues to trade near recent highs around 1.1350, following the release of German inflation numbers.
German
consumer price index fell 0.2% in April but rose 0.1% YoY, matching
expectations. The HArmonised CPI however, came in slightly below market
forecasts at -0.3% MoM and -0.1% YoY.
The euro remained steady
following the release as investors await US Q1 GDP data. At time of
writing, EUR/USD is trading at 1.1351, recording a 0.26% gain on
Thursday and having reached a peak of 1.1367.
EUR/USD technical levels
In
terms of technical levels, next resistances are seen at 1.1394 (Apr 21
high) and 1.1464 (Apr 14 high). On the flip side, immediate supports
could be found at 1.1214 (Apr 25 low), 1.1198 (50-day SMA) and 1.1144
(Mar 24 low).
