FXStreet (Mumbai) – The shared currency continues to track the German bund yields, taking the EUR/USD pair higher to 1.0991 levels.
Bund yields rise ahead of Eurozone CPI
The benchmark 10-year German bund yield moved higher by five basis points to 0.583% ahead of the data in the Eurozone, which could show consumer prices advancing at an annual pace of 0.2%, while core prices are expected to have ticked higher to 0.7% on a year to May.
The EUR/USD is largely tracking the movement in the benchmark german bond yield in the early European session today. The pair is likely to continue tracking the german yields ahead of the Eurozone inflation data.
EUR/USD Technical Levels
The pair currently trades at 1.0970. The immediate resistance is located at 1.0990 (50-DMA), above which the pair could rise to 1.1050 levels. On the flip side, a break below 1.0933 could push the pair down to 1.0890 levels.
(Market News Provided by FXstreet)