EUR/USD – Trapped between 5-DMA and 10-DMA
|EUR/USD pair has been restricted in Asia to a narrow range defined by 1.1223 (5-DMA) and 1.1205 (10-DMA) levels respectively.
Eyes Eurozone CPI and US personal spending report
EUR traders await preliminary estimate of the Eurozone CPI for September, which is expected to show cost of living ticked higher to 0.4% from 0.2%. Core CPI is seen rising 0.9% compared to previous month’s figure of 0.8%.
Across the pond, the US data is expected to show growth in personal spending and income slowed in August.
EUR/USD Technical Levels
Break above 1.1223 (5-DMA) would open doors for 1.1250 (previous day’s high) above which the spot could target 1.13 (zero figure). On the lower side, a breakdown of support at 1.12 could yield a slide to 1.1182 (100-DMA) under which 200-DMA support at 1.1158 stands exposed.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.