Madame Lagarde speaking now, German inflation got released – Euro intraday levels

Markets just received the German inflation with a 0.2% m/m release, just 0.1% above expectations.

This takes the y/y data to 2.4%, which maintains the view that the ECB should stay on hold. This also keeps the Harmonized Eurozone inflation n at the same level.

We also got individual CPI reports for France (1.2% y/y) and Italy (+1.6%)

With inflation in control, Markets will now turn to Economic activity like Retail Sales and employment figures to attempt to spot the next move.

The ECB President Madame Lagarde is appearing live on a speech at the 4th Bank of Finland's International Monetary Policy Conference in Helsinki, Finland on Geopolitics.

You can access her speech right here.

Let's take a look at a few levels for the Euro and a 1H Chart:

Prices moved above the downward channel mentioned on our most recent EURUSD analysis, but it seems that momentum is lacking a bit of traction.

The RSI is forming a small divergence and prices are stuck between the two key Moving averages 50 and 200.

Watch for breakouts above or below daily high/lows.

EURUSD Levels of interest:

Resistance Levels:

• daily highs 1.17606 and mini resistance
• Main resistance 1.18 to 1.1830
• 1.19188 yearly highs

Support Levels:

• Pivot 1.17 to 1.1720
• 1.17075 session lows
• 1.1570 to 1.16 Main support
• 1.1470 Pivotal Support

Safe Trades!

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