EURUSD: Germany PPI (YoY) Registered at 1.2%, Below Forecasts

Germany Producer Price Index (MoM) came in at -0.4% below expectations of -0.2% in June.

Germany Producer Price Index (YoY) registered at 1.2%, below expectations of 1.4% in June.

EURUSD looks unfazed by the data; the pair is trading at 1.1261 having hit the high during Asian session at 1.1281. Immediate support for the pair stands at 1.1248 the 100 day moving average. Traders can hold long positions as long as the pair is trading above that level, targeting to the upside the 1.1281 today’s high. Extra resistance the pair will meet at 1.1318 the 200 day moving average. A break below the 1.1248 mark will attract offers targeting 1.12 zone. EURUSD is very sensitive to comments from Fed policy members, later today we have two speeches from Federal Reserve Bank of St. Louis President James Bullard at 15:05GMT and Federal Reserve Bank of Boston President Eric Rosengren, s o we have to be very careful and adjust our positions accordingly.Don’t miss a beat! Follow us on Twitter.