EUR/USD jumps due to US CPI

Note: This section contains information in English only.
Source: Dukascopy Bank SA


On Wednesday, at 13:30 GMT, the US Consumer Price Index and Core Consumer Price index data was released. The USD reacted by declining. The data beat the forecasts, as the US CPI came in at 0.5% instead of the forecast 0.4%. Meanwhile, the US Core CPI was revealed to be 0.6%, compared to the expected 0.5%.

The event pushed the EUR/USD currency exchange rate above various resistance levels and the 1.1400 mark. By 14:00 GMT, it appeared that the rate had pierced the weekly R1 simple pivot point at 1.1405 and had no resistance as high as the weekly R2 simple pivot point at 1.1446. In theory, the pair could aim at the 1.1446 level and the 1.1450 mark.

On the other hand, a potential retracement back down could look for support in the 1.1400 mark, the weekly R1 at 1.1405, before aiming at the December high level zone at 1.1382/1.1387.

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Wed, 12 Jan 2022 14:07:51 GMT

GBP/USD reaches 1.3680 level

On Wednesday, at 13:30 GMT, the US Consumer Price Index and Core Consumer Price index data was released. The USD reacted by declining. The GBP/USD currency exchange rate reacted by sharply moving to the 1.3680 mark, which at 14:00 GMT appeared to have stopped the jump. In the case that the GBP passes the 1.3680 level against the US Dollar, the

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