Back
30 Sep 2013
EUR/USD kept the range on EMU CPI
FXstreet.com (Ediinburgh) -The shared currency posted no reaction after the advanced results of EMU’s inflation figures on Monday, with the EUR/USD toying with the 1.3500 handle.
EUR/USD apathetic after data
The pair kept the familiar range after the flash consumer prices in the bloc came in below expectations for the month of September. The headline CPI posted an annual rise of 1.1% while the Core gauge rose 1.0%, vs. previous estimates at 1.2% and 1.1%, respectively. The Italian inflation figures followed suit, contracting 0.3% on a monthly basis and rising 0.9% over the last twelve months. In the opinion of Stoyan Mihaylov, “Obviously the consolidation pattern below 1.3568 is still underway and my outlook here is negative again, for a break through 1.3470, en route to 1.3390. Initial resistance is projected at 1.3510, followed by the crucial area at 1.3570”.
EUR/USD levels to watch
The pair is now losing 0.17% at 1.3498 and a break below 1.3467 (low Sep.20) would aim for 1.3462 (low Sep.25) and finally 1.3459 (23.6% of 1.3104-.13569). On the upside, the initial barrier lies at 1.3565 (high Sep.27) ahead of 1.3569 (high Sep.19) and then 1.3598 (high Feb.5).
EUR/USD apathetic after data
The pair kept the familiar range after the flash consumer prices in the bloc came in below expectations for the month of September. The headline CPI posted an annual rise of 1.1% while the Core gauge rose 1.0%, vs. previous estimates at 1.2% and 1.1%, respectively. The Italian inflation figures followed suit, contracting 0.3% on a monthly basis and rising 0.9% over the last twelve months. In the opinion of Stoyan Mihaylov, “Obviously the consolidation pattern below 1.3568 is still underway and my outlook here is negative again, for a break through 1.3470, en route to 1.3390. Initial resistance is projected at 1.3510, followed by the crucial area at 1.3570”.
EUR/USD levels to watch
The pair is now losing 0.17% at 1.3498 and a break below 1.3467 (low Sep.20) would aim for 1.3462 (low Sep.25) and finally 1.3459 (23.6% of 1.3104-.13569). On the upside, the initial barrier lies at 1.3565 (high Sep.27) ahead of 1.3569 (high Sep.19) and then 1.3598 (high Feb.5).