EUR/USD Clings to 1.1350 After German Inflation Data

EUR/USD Clings to 1.1350 After German Inflation Data

28 April 2016, 14:38
Roberto Jacobs
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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).


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