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Forex: EUR/USD around 1.3250, ahead of German CPI

By FXstreet.com,  January 02, 2013, 07:22:00 AM EDT

FXstreet.com (Barcelona) - The shared currency is trading in the mid 1.3200s ahead of the German preliminary inflation figures due later. Market consensus expects the CPI to rise 1.9% on a yearly basis and 0.7% MoM during December, vs. November's +1.9% and -0.2% respectively.

Euro traders remain buoyant on Wednesday, following the increasing risk appetite after the US Senate and the House of Representatives averted the 'fiscal cliff', despite failing to dissipate all doubts surrounding the process.

The cross is now up 0.43% at 1.3262 with the next resistance at 1.3308 (high Dec.9) ahead of 1.3347 (Upper Bollinger) and then 1.3368 (high Apr.3).
On the flip side, a dip below 1.3209 (MA10d) would aim to 1.3190 (hourly low Jan.2) and then 1.3167 (low Dec.28).




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

Referenced Stocks:



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