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EURUSD breaks significant support 1.11500 after upbeat US CPI data. It hits an intraday low of 1.11135 and is currently trading around 1.11220.
The U.S. Consumer Price Index (CPI) report for September revealed that headline inflation rose 0.6% on a monthly basis and increased to 3.7% year-over-year—mostly driven by rising energy and petrol prices—while core CPI rose 0.3% for the month and 2.6% annually, therefore complicating the next Federal Reserve's policy decisions.
|
Technicals |
CMP -1.11220 |
Trend |
|
|
1-hour chart |
Value |
|
|
|
55 EMA |
1.11931 |
CMP<value |
Bearish |
|
200- EMA |
1.12230 |
CMP<value |
Bearish |
|
365- EMA |
1.12766 |
CMP<value |
Bearish |
|
800-EMA |
1.13744 |
CMP<value |
Bearish |
Major support-1.11500/1.1000/1.10 Near-term resistance-1.1265/1.1300/1.1365/1.1400/1.1435/1.1500.
|
Momentum indicator |
Inference |
Value |
|
CCI(50) |
Bearish |
-209 |
|
ADX |
Bearish |
Strength increased from 32.36 to 39 |
It is good to sell on rallies around 1.11500-525 with SL around 1.1200 for a TP of 1.0500/1.000.
