FXStreet (Edinburgh) – Mixed results from the US data today are giving EUR/USD further excuses to climb higher, now testing daily tops near 1.1430.
EUR/USD stronger, US CPI disappoints
The keeps the 1.1400 neighborhood after US inflation figures came in below market expectations for the month of May. In fact, domestic consumer prices came in flat on a yearly basis vs. the 0.2% advanced initially forecasted, while Core prices rose 1.7% YoY vs. 1.8% expected. On the bright side, if any, Initial Claims surprised markets to the upside, dropping to 267K in the week ending on June 12.
With the most relevant releases already out, next on tap in the US calendar will be the Philly Fed Manufacturing Survey, expected at 8.0 for the current month vs. April’s 6.7.
EUR/USD key levels
As of writing the pair is advancing 0.71% at 1.1418 with the next resistance at 1.1429 (high Jun.18) followed by 1.1450 (high May 18) and finally 1.1486 (high Feb.6). On the flip side, a breach of 1.1330 (low Jun.18) would target 1.1277 (10-d MA) en route to 1.1206 (low Jun.17).
(Market News Provided by FXstreet)