EUR/USD: The pair corrects after the CPI-US, thresholds to monitor short-term

© Reuters. The Euro fall as a result of the CPI-US

The pair EUR/USD drop following the IPC US for the month of December, only statistics important in the economic calendar of the day.

The inflation in US is thus increased to 1.9% in annual data, as in the first estimate. The CPI core annual proved, unsurprisingly, to 2.2%.

These figures are consistent with the forecasts supporting the Dollar, and maintain a downward pressure in the short term on EUR/USD, with a test of the psychological threshold key 1.15 regained it recently.

In the case of continued decline, a number of thresholds close to current levels could play a support role :

  • The psychological threshold of 1.15
  • The moving average 100 hours at 1.1490
  • The upward trend line visible since 3 January now to 1.1495
  • The low of yesterday at 1.1484
  • The moving average 100 days to 1.1482

If all of these thresholds yield under the downward pressure, the profile of the EUR/USD pair will begin to signal a bearish reversal, and the attention of traders could turn to the next support at 1.1450, 1.1433 (moving average 200 hours), 1.1420, 1.14 and 1.1350.

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