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11 Dec 2014
EUR/USD moves higher after German inflation data
FXStreet (Mumbai) - The single currency rose against the greenback after the official data in Germany confirmed inflation in November at a four and a half year low.
The EUR/USD pair not trades 0.13% higher at 1.2464 levels, compared to the pre-data level of 1.2433. The German consumer price index printed in-line with expectation at 0.6% year-on-year. Moreover, a decline in inflation could have led to a further weakness in the single currency.
Markets now await the results of the European Central Bank’s (ECB) second round of TLTRO. Most analysts are expecting the take-up from TLTRO to be much lower than the maximum allowable EUR 318 billion.
EUR/USD Technical Levels
The pair has an immediate resistance located at 1.2495, above which gains could be extended to 1.2545 (50-DMA). Meanwhile, support is seen at 1.2440 and 1.2424 levels.
The EUR/USD pair not trades 0.13% higher at 1.2464 levels, compared to the pre-data level of 1.2433. The German consumer price index printed in-line with expectation at 0.6% year-on-year. Moreover, a decline in inflation could have led to a further weakness in the single currency.
Markets now await the results of the European Central Bank’s (ECB) second round of TLTRO. Most analysts are expecting the take-up from TLTRO to be much lower than the maximum allowable EUR 318 billion.
EUR/USD Technical Levels
The pair has an immediate resistance located at 1.2495, above which gains could be extended to 1.2545 (50-DMA). Meanwhile, support is seen at 1.2440 and 1.2424 levels.