Forex: EUR/USD keeps the red after Spanish data

FXstreet.com (Barcelona) - The single currency remains in negative territory after Spanish inflation figures have come in line with market expectations. In fact, CPI rose 0.8% on a monthly basis vs. +0.9% estimated, and 3.5% over the last twelve months.

Next on tap will be Italian CPI followed by the more relevant ZEW Survey in Germany and the EU.

At the moment EUR/USD is down 0.21% at 1.2681
Next support levels lie at 1.2673 (low Nov.13) followed by 1.2627 (low Sep.7) then 1.2607 (50% of 1.2042-1.3173) and finally 1.2600 (psychological level).
On the upside side, a climb beyond 1.2710 (high Nov.13) would aim to 1.2739 (high Nov.12) en route to 1.2791 (high Nov.9) and 1.2798 (MA10d).

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