EUR/USD Depressed Near 1.1130 on CPI

EUR/USD Depressed Near 1.1130 on CPI

31 May 2016, 11:46
Roberto Jacobs
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EUR/USD Depressed Near 1.1130 on CPI

The shared currency keeps the negative territory on Tuesday, taking EUR/USD to the 1.1130/20 band.

EUR/USD muted post-data

The pair met renewed downside pressure today following month-end flows and a steady stance of the greenback, managing to advance albeit marginally for the time being.

EUR has practically ignored the release of advanced inflation figures in the euro region, where headlines consumer prices have contracted 0.1% over the last twelve months, matching initial forecasts.

Previously, mixed results from German retail sales and labour market have been weighing on euro, which remains subdued in the low-1.1100s ahead of the US calendar.

EUR/USD levels to watch

The pair is now retreating 0.10% at 1.1128 and a breakdown of 1.1096 (200-day sma) would target 1.1055 (low Mar.16) en route to 1.0820 (low Mar.10). On the flip side, the initial up barrier lines up at 1.1178 (100-day sma) followed by 1.1246 (high May 23) and finally 1.1258 (20-day sma).


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