EUR/USD unmoved around 1.1170 on German CPI

Pablo Piovano FXStreet

The shared currency remained apathetic following German CPI figures today, with EUR/USD hovering over the 1.1170 area.

EUR/USD now looks to US data

The pair kept the composure despite advanced German inflation figures have missed estimates for the month of August.

In fact, headline consumer prices are expected to rise at an annualized 0.4% during last month, while the broader HICP is seen rising at 0.3% YoY, vs. consensus at 0.5% and 0.5%, respectively.

Next of relevance for the pair will be US home prices gauged by the S&P/Case-Shiller index and Conference Board’s Consumer Confidence for the current month.

EUR/USD levels to watch

The pair is now losing 0.16% at 1.1170 and a breakdown of 1.1156 (low Aug.29) would target 1.1119 (200-day sma) en route to 1.1043 (low Aug.5). On the other hand, the next up barrier aligns at 1.1204 (2014-2016 resistance line) followed by 1.1367 (high Aug.18) and finally 1.1434 (high Jun.24).

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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