Posted 1/16/2024, 10:37:15 AM
German Inflation Jumps as Euro Holds Steady Ahead of UK Earnings and Inflation Data
- German inflation rose to 3.7% in December, up from 3.2% in November
- EUR/USD hints at a directional move after period of consolidation; support at 1.0831 and 200-day SMA
- EUR/GBP bounced off support but upside momentum yet to be tested; resistance at 0.8635
- UK earnings data released today; inflation data tomorrow key for BOE policy outlook
- Analysis uses chart patterns and key support/resistance levels to examine EUR/USD and EUR/GBP price action