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17 Dec 2013
EUR/USD jumps after US inflation data
FXstreet.com (San Francisco) - The Euro has reacted to the upside against the US dollar following the small advance in the annual inflation from 1.0% in October to the 1.2% in November. CPI showed a lower than expected increase in November and it remains far from 2.0% Federal Reserve target.
The EUR/USD jumped around 20 pips in the last few minutes from 1.3745 to trade close to 1.3770. Currently, the Euro to US dollar exchange rate is at 1.3765, flat on the day. The short term perspective remains slightly bearish according to the FXstreet.com trend index in the 1-hour chart.
CCI and Momentum are pointing to the south while the MACD and the Stochastic are neutral in the 16 minutes timeframe too.
EUR/USD short-term levels
In terms of technical levels, the EUR/USD could find immediate resistances at 1.3800 (psychological level), 1.3811 (Dec 11 high) and 1.3832 (2013 high Oct 25). On the downside, supports are seen at 1.3744/38 (Dec 17 & 16 lows), 1.3725 (10-day SMA) and 1.3708 (Dec 13 low).
The EUR/USD jumped around 20 pips in the last few minutes from 1.3745 to trade close to 1.3770. Currently, the Euro to US dollar exchange rate is at 1.3765, flat on the day. The short term perspective remains slightly bearish according to the FXstreet.com trend index in the 1-hour chart.
CCI and Momentum are pointing to the south while the MACD and the Stochastic are neutral in the 16 minutes timeframe too.
EUR/USD short-term levels
In terms of technical levels, the EUR/USD could find immediate resistances at 1.3800 (psychological level), 1.3811 (Dec 11 high) and 1.3832 (2013 high Oct 25). On the downside, supports are seen at 1.3744/38 (Dec 17 & 16 lows), 1.3725 (10-day SMA) and 1.3708 (Dec 13 low).