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EUR/USD ignores CPI data, back above 1.28

FXStreet (Moscow) - EUR/USD spent some time trying to settle above 1.28; it is trading at 1.2808.

The pair bounced back from 1.2772 European low coming back to 1.28 area again. The just released EMU CPI data were completely ignored by the market, as the Index came out as expected at 0.4% m/m, and 0.3% y/y. The data confirmed there is still a very low price pressure within the euro zone area, and it leaves the ECB more scope for additional stimulus measures ahead. Currently, the pair is trading at 1.2808 and may easily add another 10 pips, as initial sellers’ interest is rumored only around 1.2820/25 area.

What are today’s key EUR/USD levels?

Today's central pivot point can be found at 1.2783, with support below at 1.2680, 1.2521 and 1.2418, with resistance above at 1.2942, 1.3045 and 1.3204. Hourly Moving Averages are mixed, with the 200SMA bullish at 1.2670 and the daily 20EMA flat at 1.2752. Hourly RSI is bullish at 61.

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