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14 Jun 2013
EUR/USD steady after US PPI
FXstreet.com (Córdoba) - The EUR/USD showed little reaction even after data showed US producer prices rose for the first time in 3 months in May.
EUR/USD unimpressed by data
EUR/USD moved slightly lower as the greenback benefited from higher inflation pressures, which could limit Fed's room for stimulus. However, recent measures of inflation show that inflation is running well below the Fed's 2% year-over-year target, leaving the pair almost unchanged at the 1.3300/05 area, where it records a 0.5% loss on the day.
Having hit a daily low of 1.3298, if EUR/USD continues to fall, next support levels are seen at 1.3265 (Jun 12 low) and 1.3230 (Jun 11 low), while on the other hand, resistances could be found at 1.3390 (Jun 13 high) and 1.3435 (Feb 20 high).
EUR/USD unimpressed by data
EUR/USD moved slightly lower as the greenback benefited from higher inflation pressures, which could limit Fed's room for stimulus. However, recent measures of inflation show that inflation is running well below the Fed's 2% year-over-year target, leaving the pair almost unchanged at the 1.3300/05 area, where it records a 0.5% loss on the day.
Having hit a daily low of 1.3298, if EUR/USD continues to fall, next support levels are seen at 1.3265 (Jun 12 low) and 1.3230 (Jun 11 low), while on the other hand, resistances could be found at 1.3390 (Jun 13 high) and 1.3435 (Feb 20 high).