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EUR/USD uninspired by Eurozone CPI

FXStreet (Córdoba) - The EUR/USD received a slight boost and reached marginal new highs for the day after preliminary data showed Eurozone consumer inflation grew in line with expectations in August.

Eurozone consumer price index rose 0.3% YoY in August, meeting expectations, while the core index grew 0.9% versus an increase of 0.8% forecasted by analysts.

Today's release was attracting much attention ahead of ECB meeting next week, after Draghi signaled further easing measures at Jackson Hole. However, in-line-with expectations data doesn't really shed too much light on ECB's next move and will probably keep the euro under pressure heading into the decision.

The EUR/USD climbed a few pips and hit a high of 1.3194 right after the release, extending a recovery from a low of 1.3159 scored at the beginning of the European session. At time of writing, the pair is trading at 1.3185, virtually unchanged on the day.

EUR/USD technical levels

As for technical levels, the EUR/USD could find next supports at 1.3152 (2014 low Aug 27), 1.3104 (Sep 6 2013 low) and 1.3100 (psychological level). On the other hand, resistances are seen at 1.3238 (Aug 22 closing price) and the 1.3295/1.3300 area (Aug 22 high/psychological level).

Italy Consumer Price Index (MoM) came in at 0.2%, above forecasts (0.1%) in August

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