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Forex pairs in this Article » EUR/USD (Edinburgh) - The EUR/USD quickly faded the bull attempt to the boundaries of 1.3580, returning to the lower end of today’s range around 1.3530/20.

EUR/USD under pressure ahead of US data

Softer-than-expected annualized consumer prices in the euro area during January (0.7% vs. 0.9% exp.) accelerated the current decline to 1-week lows, stabilizing near 1.3530/35 after bottoming out near 1.3520. In light of the CPI release, Analyst at ING Martin van Vliet commented, “with the recovery fragile and unemployment still elevated (12.0%), albeit no longer rising, wage and underlying price pressures in the Eurozone may remain low for longer than the ECB currently expects… For now, however, the increased signs of recovery provide an argument for the ECB to keep their powder dry next week”.

EUR/USD key levels

The pair is down 0.12% at 1.3531 and a break below 1.3517 (low Jan.21) would clear the way to 1.3508 (2014 low Jan.20) ahead of 1.3490 (low Nov.25). On the upside, the initial hurdle aligns at 1.3595 (daily cloud base) followed by 1.3603 (100-d MA) and finally 1.3614 (10-d MA).
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