Forex: EUR/USD hovering over 1.2890 after German CPI

FXstreet.com (Barcelona) - The single currency has intensified its downside after the preliminary inflation figures in Germany for the present month. In fact CPI eased a hair during the period, rising 1.9% over the last twelve months, and contracting 0.1% on a monthly basis. Both prints were in line with expectations.

The cross is now down 0.38% at 1.2893
A dip below 1.2829 (MA21d) would open the door to 1.2827 (low Nov.22) en route to 1.2730 (low Nov.19).
On the other hand, the first hurdle lies at 1.3008 (Upper Bollinger) ahead of 1.3010 (high Nov.27) and 1.3021 (high Oct.31).