30 Apr 2015
EUR/USD testing lows sub-1.1100
FXStreet (Edinburgh) - The single currency is extending the correction lower post-FOMC, now taking EUR/USD to visit session lows in the 1.1080/75 band.
EUR/USD focus on EMU CPI
The pair is coming back from the proximity of the key barrier at 1.1200 on Wednesday following a dismal print from the US GDP Annualized during the first quarter (0.2% act.). However, a balanced tone from the Committee at yesterday’s meeting gave oxygen to the greenback and triggered the current leg lower.
Data wise in Euroland, German Retail Sales contracted further during March, 2.3% MoM and expanded 3.5% on a yearly basis. Ahead in the session, German Unemployment and the flash inflation figures in the euro area will take centre stage.
EUR/USD key levels
At the moment the pair is down 0.48% at 1.1074 and a breach of 1.0959 (low Apr.29) would open the door to 1.0928 (55-d MA) and then 1.0860 (low Apr.28). On the upside, the initial hurdle lines up at 1.1189 (high Apr.29) ahead of 1.1200 (psychological level) and finally 1.1218 (high Mar.3).
EUR/USD focus on EMU CPI
The pair is coming back from the proximity of the key barrier at 1.1200 on Wednesday following a dismal print from the US GDP Annualized during the first quarter (0.2% act.). However, a balanced tone from the Committee at yesterday’s meeting gave oxygen to the greenback and triggered the current leg lower.
Data wise in Euroland, German Retail Sales contracted further during March, 2.3% MoM and expanded 3.5% on a yearly basis. Ahead in the session, German Unemployment and the flash inflation figures in the euro area will take centre stage.
EUR/USD key levels
At the moment the pair is down 0.48% at 1.1074 and a breach of 1.0959 (low Apr.29) would open the door to 1.0928 (55-d MA) and then 1.0860 (low Apr.28). On the upside, the initial hurdle lines up at 1.1189 (high Apr.29) ahead of 1.1200 (psychological level) and finally 1.1218 (high Mar.3).