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1 Jun 2015
EUR/USD around 1.0930 on German CPI
FXStreet (Edinburgh) - The European currency keeps its bearish tone against the US dollar on Monday, with EUR/USD navigating the 1.0930/35 band.
EUR/USD muted on German CPI, Greek rumours
The pair remained apathetic following the inflation figures in the German economy, where headline consumer prices rose 0.1% inter-month in May and 0.7% over the last twelve month. The HICP reading showed prices gained 0.1% MoM and 0.7% on a yearly basis.
The pair has quickly faded a spike beyond 1.0940 after EU officials quickly denied rumours that a Greece-EU deal could be announced this afternoon.
EUR/USD levels to watch
The pair is now losing 0.49% at 1.0932 with the next support at 1.0867 (low May 28) ahead of 1.0819 (low May 27) and finally 1.0800 (psychological level). On the upside, a break above 1.0990 (high Jun.1) would target 1.1002 (10-d MA) en route to 1.1010 (high May 25).
EUR/USD muted on German CPI, Greek rumours
The pair remained apathetic following the inflation figures in the German economy, where headline consumer prices rose 0.1% inter-month in May and 0.7% over the last twelve month. The HICP reading showed prices gained 0.1% MoM and 0.7% on a yearly basis.
The pair has quickly faded a spike beyond 1.0940 after EU officials quickly denied rumours that a Greece-EU deal could be announced this afternoon.
EUR/USD levels to watch
The pair is now losing 0.49% at 1.0932 with the next support at 1.0867 (low May 28) ahead of 1.0819 (low May 27) and finally 1.0800 (psychological level). On the upside, a break above 1.0990 (high Jun.1) would target 1.1002 (10-d MA) en route to 1.1010 (high May 25).