The preliminary EMU CPI remained unchanged at 2.2% in December, instead of moving lower to 2.1% as expected by market consensus. The Italian flash CPI inflation report came in higher than expected at 0.3% on the monthly basis, and eased from 2.5% to 2.4% as expected on the yearly.
“Penetrating support at 1.3119, EURUSD price action looks set for another move lower towards subsequent support at 1.2998”, wrote Fxstreet.com independent analyst Richard Lee, pointing to 1.2892 as next support and resistance at 1.3200.
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 securities. 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 Forex 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.