EUR/USD unmoved after German CPI

Ani Salama FXStreet

EUR/USD remained little changed trading at the 1.1220 area following the release of mainly in line with expectations German CPI figures.

German CPI rose 0.1% MoM in September and 0.7% on annual basis, beating slightly expectations of a flat monthly reading and a 0.6% increase YoY. Meanwhile, the harmonised CPI, calculated for European purposes, came in flat in September and rose 0.5% year on year, both matching expectations.

The shared currency however, didn’t react to data, with investors attention turning to US GDP figures. At time of writing, EUR/USD is trading at 1.1222, just a few pips above its opening price.

EUR/USD technical levels

In terms of technical levels, immediate resistances could be faced at 1.1235 (Sep 28 high), 1.1258 (Sep 27 high), 1.1283 (Sep 15 high), 1.1326 (Sep 8 high) and 1.1365 (Aug 18 high). On the other hand, supports are seen at 1.1187 (100-day SMA/50-day SMA), 1.1155 (200-day SMA) and 1.1122 (Aug 31 & Sep 21 low).

Author

Ani Salama

FXStreet

Ani Salama is an Economist specialized in financial markets and statistics analysis. In 2010, she joined FXstreet where she now contributes with the news section.

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