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2 Mar 2015
EUR/USD trough 1.1200 on EMU CPI
FXStreet (Edinburgh) - EUR/USD is now advancing further, leaving behind the 1.1200 key barrier after the release of the EMU’s CPI.
EUR/USD retakes 1.1200
The pair is prolonging its upside momentum vs. the greenback at the beginning of the week, now picking up pace after consumer prices in the euro region dropped less than expected 0.3% during February vs. -0.5% forecasted and -0.6% previous; Core prices remained intact at 0.6% on a year to February. Further data showed the unemployment rate ticking lower to 11.2% during January, vs. 11.4% previously estimated and December’s 11.3%.
EUR/USD levels to consider
At the moment the pair is up 0.20% at 1.1213 with the initial hurdle at 1.1245 (high Feb.27) followed by 1.1317 (10-d MA) and finally 1.1345 (21-d MA). On the downside, a breach below 1.1100 (psychological level) would open the door to 1.1098 (11-year low Jan.26) and then 1.1000 (psychological level).
EUR/USD retakes 1.1200
The pair is prolonging its upside momentum vs. the greenback at the beginning of the week, now picking up pace after consumer prices in the euro region dropped less than expected 0.3% during February vs. -0.5% forecasted and -0.6% previous; Core prices remained intact at 0.6% on a year to February. Further data showed the unemployment rate ticking lower to 11.2% during January, vs. 11.4% previously estimated and December’s 11.3%.
EUR/USD levels to consider
At the moment the pair is up 0.20% at 1.1213 with the initial hurdle at 1.1245 (high Feb.27) followed by 1.1317 (10-d MA) and finally 1.1345 (21-d MA). On the downside, a breach below 1.1100 (psychological level) would open the door to 1.1098 (11-year low Jan.26) and then 1.1000 (psychological level).