- German PPI m/m
- EUR/USD moving towards the 1.14 level
- U.S. Bank Holiday
Price Movement
EUR/USD has been moving upwards from the start of this week.
Trend
EUR/USD has been moving on a wide range since last December.
Macro Background
Producer Price Index (PPI), a leading indicator of consumer inflation, measures the change in the price of goods sold by manufacturers.
The released data was -0.4%, lower than an expected of -0.1%.
This may lead to a temporary weakness in EUR/USD.
Important Issue
Expect lower trading volatility and volume today as U.S. banks will be closed in observance of Martin Luther King Jr. Day.
Technical
EUR/USD is currently moving towards the 1.14 level.
Price Levels
Current Price: 1.13823
Next Support: 1.13352
Next Resistance: 1.14138