FXStreet (Edinburgh) - The single currency is now losing the grip, dragging the EUR/USD to test session lows in the area of 1.3555/50.



EUR/USD weaker post-US CPI



Consumer prices in the US economy surprised investors to the upside on May, expanding at an annual pace of 2.1% and 0.4% on a monthly basis, vs. estimates at 2.0% and 0.2%, respectively. Core prices (excluding food and energy costs) also surpassed expectations at 0.3% MoM and 2.0% over the last twelve months. In the opinion of Camilla Sutton, Chief FX Strategist at Scotiabank, “technicals area mixed with most signals warning of a range bound environment. Support lies at yesterday’s low of 1.3513, while resistance lies at the high from June 10th of 1.3602”.



EUR/USD key levels



As of writing the pair is losing 0.20% at 1.3545 with the immediate support at 1.3521 (low Jun.13) ahead of 1.3512 (low Jun.12) and then 1.3503 (low Jun.5). On the flip side, a breakout of 1.3587 (high Jun.17) would open the door to 1.3590 (Tenkan Sen) and finally 1.3602 (high Jun.10).



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    EUR/USD Technical Analysis: Euro Settles in Familiar Area

  2. Forex News

    Trading Video: Greece Panic Eases as IMF Payment in Arrears, Risk Still Stalking

  3. Forex News

    Would Central Banks Step in If Stocks Tumble, Could They Stop It?

  4. Forex News

    EUR/USD: Greek speculations dictating the major - FXStreet

  5. Forex News

    EUR/USD Slammed and Jammed to Complete Range Month

Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!