Back
19 Feb 2016
EUR/USD falls further after US CPI
EUR/USD pushed lower and printed fresh 2-week lows as the dollar strengthened on the back of higher-than-expected US consumer prices data.
US consumer price index was flat in January after falling 0.1% the previous month, while excluding the volatile food and energy categories, the so called core CPI rose 0.3%, the largest monthly increase since August 2011. Both the headline and the core indexes were above expectations of -0.1% and +0.2% respectively.
EUR/USD was dragged lower by a stronger dollar and hit a low of 1.1065, last seen February 3. At time of writing, the pair is trading at 1.1070, still % below its opening price.
EUR/USD is extending losses into a sixth consecutive day Friday and remains on track to post steep weekly losses, after being rejected from the 1.1375 zone earlier this month.
EUR/USD levels to watch
As for technical levels, immediate supports are seen at 1.1053 (200-day SMA), 1.0963 (100-day SMA) and 1.0903 (Feb 3 low). On the flip side, resistances could be faced at 1.1149 (Feb 18 high), 1.1178 (Feb 17 high), 1.1194 (10-day SMA) and 1.1249 (Feb 15 high).
US consumer price index was flat in January after falling 0.1% the previous month, while excluding the volatile food and energy categories, the so called core CPI rose 0.3%, the largest monthly increase since August 2011. Both the headline and the core indexes were above expectations of -0.1% and +0.2% respectively.
EUR/USD was dragged lower by a stronger dollar and hit a low of 1.1065, last seen February 3. At time of writing, the pair is trading at 1.1070, still % below its opening price.
EUR/USD is extending losses into a sixth consecutive day Friday and remains on track to post steep weekly losses, after being rejected from the 1.1375 zone earlier this month.
EUR/USD levels to watch
As for technical levels, immediate supports are seen at 1.1053 (200-day SMA), 1.0963 (100-day SMA) and 1.0903 (Feb 3 low). On the flip side, resistances could be faced at 1.1149 (Feb 18 high), 1.1178 (Feb 17 high), 1.1194 (10-day SMA) and 1.1249 (Feb 15 high).