FXStreet (Edinburgh) – The offered tone is picking up pace around EUR now, dragging EUR/USD back to the 1.0945/40 band.
EUR/USD ignores German data
Spot has remained apathetic despite the positive surprise from preliminary inflation figures in Germany, showing headline consumer prices rising at an annual pace of 0.3% during October vs. 0.2% previously estimated. The broader HICP saw prices rising 0.2% YoY and 0.0% on a monthly basis.
Next of relevance will be the speech by Atlanta Fed D.Lockhart followed by US Pending Home Sales.
EUR/USD levels to watch
As of writing the pair is advancing 0.06% at 1.0930 and a break above 1.1021 (76.4% Fibo of 1.0808-1.1713) would target 1.1113 (200-day sma) en route to 1.1162 (100-day sma). On the other hand, the initial support lines up at 1.0894 (low post-FOMC Oct.28) followed by 1.0847 (low Aug.5) and finally 1.0808 (low Jul.20).
(Market News Provided by FXstreet)