EUR/USD strengthens after German inflation data
MARKET TALK
This mornings German consumer price index (CPI), the key indicator to measure German inflation, indicated that German inflation has increased from -1.2% to 0.5%, an increase month on month
Technical commentary:
EUR/USD traders seeking a potential short term (14-25 days) upside target could be eyeing the 1.105s (see chart), while short term downside risk remains below the 50 day moving average near 1.07032, if breached
opens up the 1.0614 support (38.2% retracement from the 13 week high).
Not investment advice. Past performance is not indicative of future results.
This mornings German consumer price index (CPI), the key indicator to measure German inflation, indicated that German inflation has increased from -1.2% to 0.5%, an increase month on month
Technical commentary:
EUR/USD traders seeking a potential short term (14-25 days) upside target could be eyeing the 1.105s (see chart), while short term downside risk remains below the 50 day moving average near 1.07032, if breached
opens up the 1.0614 support (38.2% retracement from the 13 week high).
Not investment advice. Past performance is not indicative of future results.