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Forex pairs in this Article » EUR/USD (Barcelona) - Having declined to post a low at 1.3584, EUR/USD climbed overnight to a high at 1.3626, before edging lower into the European session.

German CPI in-line with forecasts

EUR/USD has declined from its overnight high at 1.3626 following German CPI data which registered in line with forecasts across the board. Ahead this morning we see the ECB Monthly Report (09:00 GMT), Eurozone CPI and the German Buba Presidents speech (10:00 GMT) making up the European docket, before US CPI at 13:30 GMT and Bernanke´s speech at 16:10 GMT. For now, spot seen capped at the 1H 200 SMA at 1.3624, just below the 23.6% Fibonacci retracement from the 1.3892-1.3547 decline.

What are today´s key EUR/USD levels?

Hourly RSI sits at 44 and neutral. The daily pivot point can be found at 1.3622, with next support below at 1.3562 (S1), 1.3550-70 (light bids), 1.3545 (stop losses commence), 1.3520-30 (Corporate and leveraged account bids), 1.3519 (S2), 1.3470-80 (Bids, variety of accounts), & 1.3459 (S3). Resistance above can be seen at 1.3650-60 (Asian Reserve Manager offers), 1.3665 (R1), 1.3670 (21 Day moving average), 1.3690-10 (Offers, various accounts), 1.3710 (buy stops commence), 1.3725 (R2), 1.3720-30 (leveraged account offers), 1.3750-60 (Corporate and prop offers),1.3768 (R3), & 1.3790-10 (Corporate and option selling interest).
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