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12 Jun 2013
EUR/USD around 1.3300 on German CPI
FXstreet.com (Barcelona) - The EUR/USD is now easing some ground from overnight highs, trading around the key mark at 1.3300 on Wednesday, after German CPI matched estimates in May.
Prices pointing higher support EUR/USD
Consumer prices in the German economy increased at an annual pace of 1.5% and 0.4% on a monthly basis, both prints banging on estimates and differentiating from the disinflation fashion prevailing in the euro area. “We still expect the Fed to start tapering over the next six months, we are now getting close to a level where we would strongly consider scaling into a more strategic short EUR/USD position”, recommended Chief Analyst at Danske Bank Allan von Mehren.
EUR/USD technicals
At the moment the pair is losing 0.08% at 1.3301 and a breach of 1.3177 (low Jun.10) would clear the way to 1.3121 9MA10d) and then 1.3103 (MA100d). On the flip side, resistance levels align at 1.3306 (high Jun.6) followed by 1.3319 (high Feb.25) and finally 1.3341 (61.8% of Feb.-Apr. slide).
Prices pointing higher support EUR/USD
Consumer prices in the German economy increased at an annual pace of 1.5% and 0.4% on a monthly basis, both prints banging on estimates and differentiating from the disinflation fashion prevailing in the euro area. “We still expect the Fed to start tapering over the next six months, we are now getting close to a level where we would strongly consider scaling into a more strategic short EUR/USD position”, recommended Chief Analyst at Danske Bank Allan von Mehren.
EUR/USD technicals
At the moment the pair is losing 0.08% at 1.3301 and a breach of 1.3177 (low Jun.10) would clear the way to 1.3121 9MA10d) and then 1.3103 (MA100d). On the flip side, resistance levels align at 1.3306 (high Jun.6) followed by 1.3319 (high Feb.25) and finally 1.3341 (61.8% of Feb.-Apr. slide).