EUR/USD Volatile Around 1.1270, Fedspeak Eyed
The single currency has faded the post-CPI spike to the boundaries of the 1.1300 handle, taking EUR/USD to the area of 1.1280/75.
EUR/USD bid after poor US CPI
Spot
has reverted part of the initial bearish mood while it looks to snap a
2-day negative streak, trading in the 1.1280 area following a failed
attempt to retake 1.1300 the figure.
The greenback has given away
part of its initial gains after key US inflation figures failed to meet
expectations during the month of March. USD will take centre stage
later in light of the speeches by Atlanta Fed D.Lockhart and FOMC member
J.Powell.
EUR/USD levels to watch
The
pair is now down 0.06% at 1.1268 and a break below 1.1219 (38.2% Fibo of
1.0820-1.1455) would open the door to 1.1163 (55-day sma) and finally
1.1142 (low Mar.24). On the flip side, the initial hurdle lines up at
1.1313 (23.6% Fibo of 1.0820-1.1455) followed by 1.1454 (2016 high
Apr.7) and then 1.1496 (monthly high Oct.15 2015).
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