30 Jan 2014
EUR/USD falls to 1.3670 on German CPI
FXstreet.com (Edinburgh) - The EUR/USD intensifies its offered tone on Thursday, slipping to the 1.3675/70 area after German CPI results.
EUR/USD extends the downside
The pair is prolonging its correction lower to multi-day lows near 1.3675 after preliminary German consumer prices came in short of estimates for the month of January. The headline CPI rose at an annual pace of 1.3% while the HICP rose 1.2% vs. forecasts at 1.5% and 1.3%, respectively. Markets participants remain cautious however as the advanced annualized US GDP figures for the fourth quarter are due next (3.2% exp.), ahead of Initial Claims.
EUR/USD levels to watch
The pair is now retreating 0.59% at 1.3574 and a break below 1.3564 (daily cloud base) would expose 1.3530 (low Jan.23). On the flip side, the initial hurdle aligns at 1.3666 (high Jan.30) ahead of 1.3685 (high Jan.29) and then 1.3689 (high Jan.28).
EUR/USD extends the downside
The pair is prolonging its correction lower to multi-day lows near 1.3675 after preliminary German consumer prices came in short of estimates for the month of January. The headline CPI rose at an annual pace of 1.3% while the HICP rose 1.2% vs. forecasts at 1.5% and 1.3%, respectively. Markets participants remain cautious however as the advanced annualized US GDP figures for the fourth quarter are due next (3.2% exp.), ahead of Initial Claims.
EUR/USD levels to watch
The pair is now retreating 0.59% at 1.3574 and a break below 1.3564 (daily cloud base) would expose 1.3530 (low Jan.23). On the flip side, the initial hurdle aligns at 1.3666 (high Jan.30) ahead of 1.3685 (high Jan.29) and then 1.3689 (high Jan.28).