EUR/USD waits for CPI

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


In general, technical analysis is set to remain rather irrelevant until the publication of the US Consumer Price Index on Thursday at 13:30 GMT. Meanwhile, note that some impact could be made by strong clusters of technical levels. Support is found near 1.0930 and resistance was located at 1.0980.

A move above 1.0980 is set to face a number of resistance levels. First of all, the combination of the weekly simple pivot point at 1.0985 and the 200-hour simple moving average near 1.0970. Afterwards, the 1.1000 mark is set to provide resistance, before the EUR/USD reaches the high level range at 1.1010.

In the meantime, a decline below 1.0910 would look for support in the 1.0900 mark, prior to the rate reaching the support range at 1.0880/1.0890. Note that previously the 1.0925 level was the lower boundary of the close by support range.
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