US CPI giving dollar a boost - FXStreet

By FXstreet.com | June 17, 2014 AAA

FXStreet (Barcelona) - Following the publication of US CPI numbers, which showed the biggest increase in two years, approaching Fed's target of 2%, FXStreet Chief Analyst Valeria Bednarik notes that the EUR/USD gave up most of its recent gains and eased down to 1.3536 where it stands.



Key quotes

“The hourly chart shows indicators turning strongly south in negative territory, while price broke below its 100 SMA for a few pips and yet to be confirmed.”



“In the 4 hours chart latest candle opened below its 100 SMA, with technical readings turning mildly bearish around their midlines.”



“A break lower seems unlikely ahead of mentioned FED meeting Wednesday, yet below 1.3510, the pair may attempt a test of this year low of 1.3475.”



comments powered by Disqus
Related Forex Analysis
  1. GBP/USD claws to 1.6100 ahead of Europe
    Forex News

    GBP/USD claws to 1.6100 ahead of Europe

  2. EUR/USD glued to 1.2755; triggers are wanted
    Forex News

    EUR/USD glued to 1.2755; triggers are wanted

  3. Asia recap: most majors are still sleeping in a ranges; JPY is weakening
    Forex News

    Asia recap: most majors are still sleeping in a ranges; JPY is weakening

  4. Gold Struggling Below $1250, SPX 500 Trying to Retake 1900 Figure
    Forex News

    Gold Struggling Below $1250, SPX 500 Trying to Retake 1900 Figure

  5. US Dollar Technical Analysis: Stalling at Channel Support
    Forex News

    US Dollar Technical Analysis: Stalling at Channel Support

Trading Center