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14 Jun 2013
EUR/USD dips to lows on EMU CPI
FXstreet.com (Edinburgh) - A sudden bout of weakness is now weighting on the EUR/USD, dragging the pair to the proximities of 1.3320 after consumer prices in the euro area matched forecasts in May.
EUR/USD correction extends
Prices in the bloc during May seemed to have decoupled from the disinflation prevailing in the last periods with both the headline CPI and the Core reading advancing 1.4% and 1.2% over the last twelve months. In the meantime, market participants would focus on the 3-year LTRO repayment figures due later.
EUR/USD levels to watch
At the moment, the pair is retreating 0.42% at 1.3319 and a violation of 1.3266 (low Jun.12) would target 1.3233 (MA10d) en route to 1.3232 (low Jun.11). On the upside, the next hurdle lies at 1.3390 (high Jun.13) followed by 1.3434 (high Feb.20) and then 1.3456 (high Feb.14).
EUR/USD correction extends
Prices in the bloc during May seemed to have decoupled from the disinflation prevailing in the last periods with both the headline CPI and the Core reading advancing 1.4% and 1.2% over the last twelve months. In the meantime, market participants would focus on the 3-year LTRO repayment figures due later.
EUR/USD levels to watch
At the moment, the pair is retreating 0.42% at 1.3319 and a violation of 1.3266 (low Jun.12) would target 1.3233 (MA10d) en route to 1.3232 (low Jun.11). On the upside, the next hurdle lies at 1.3390 (high Jun.13) followed by 1.3434 (high Feb.20) and then 1.3456 (high Feb.14).