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15 Apr 2015
EUR/USD back below 1.065
FXStreet (Mumbai) - The EUR/USD has been knocked a tad lower after the official data in France showed a softer year-on-year French CPI in March. The pair eased from the high of 1.0662 to 1.0637 levels.
Flirts with a key Fibo level
A softer French CPI pushed the pair below 1.0641, which is the 23.6% Fib retracement of 1.1033-1.0519. Year-on-year the French CPI in March fell 0.1%, against the expectation of 0.00%. Consequently, the shared currency came under pressure. Earlier today, the German CPI release failed to have any significant impact on the pair.
Ahead in the day we have the Eurozone Trade balance data and the ECB monetary policy statement due for release. More than the policy statement, the markets would be more interested to hear Mario Draghi’s comments on the Eurozone economy.
EUR/USD Technical Levels
At the moment, the pair trading at 1.0643. The immediate resistance is seen at 1.0662, above which gains could be extended to 1.0715. On the flip side, support is seen at 1.0611 (5-DMA), under which losses could be extended to 1.0550.
Flirts with a key Fibo level
A softer French CPI pushed the pair below 1.0641, which is the 23.6% Fib retracement of 1.1033-1.0519. Year-on-year the French CPI in March fell 0.1%, against the expectation of 0.00%. Consequently, the shared currency came under pressure. Earlier today, the German CPI release failed to have any significant impact on the pair.
Ahead in the day we have the Eurozone Trade balance data and the ECB monetary policy statement due for release. More than the policy statement, the markets would be more interested to hear Mario Draghi’s comments on the Eurozone economy.
EUR/USD Technical Levels
At the moment, the pair trading at 1.0643. The immediate resistance is seen at 1.0662, above which gains could be extended to 1.0715. On the flip side, support is seen at 1.0611 (5-DMA), under which losses could be extended to 1.0550.