- The pair retreats after testing peaks near 1.1420.
- The greenback once again challenges tops near 96.70.
- US Core PCE rose more than expected in September.
EUR/USD is now coming under some renewed downside pressure and returns to the lower bound of the daily range around 1.1370.
EUR/USD offered post-data
The pair is now trading on a selling mood after US inflation figures tracked by the Core PCE rose at a monthly 0.2% (vs. 0.1% forecasted) during September and 2.0% over the last twelve months.
Further results in the US docket saw Personal Income rising 0.2% inter-month while Personal Spending expanded at a monthly 0.4%. It is worth mentioning that both August’s prints were revised higher.
In the meantime, the pair returns to the negative ground amidst heightened volatility around the German political arena, while the Italian government is expected to submit the budget law to parliament tomorrow.
EUR/USD levels to watch
At the moment, the pair is losing 0.26% at 1.1372 and a break below 1.1332 (low Oct.26) would target 1.1316 (200-week SMA) en route to 1.1299 (2018 low Aug.15). On the flip side, the immediate hurdle aligns at 1.1456 (10-day SMA) seconded by 1.1497 (21-day SMA) and finally 1.1550 (high Oct.22).
Share
