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Forex: EUR/USD keeps 1.3430 on German CPI

The shared currency remains in the proximity of 1.3430 after German consumer prices eased some ground during January. In fact, CPI contracted 0.5% on a monthly basis and advanced 1.7% over the last twelve months, matching the median.

As of writing, the pair is gaining 0.28% at 1.3426 with the next hurdle at 1.3444 (MA21d) ahead of 1.3456 (high Feb.14) and then1.3472 (trend line off Feb. high)
On the flip side, a breakdown of 1.3307 (low Feb.15) would bring 1.3286 (low Jan.24) and then 1.3276 (MA55d).

Germany Consumer Price Index (MoM) declines to -0.5% in Jan from 0.9% in Dec. (YoY) 1.7% vs. 2.1%.

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Germany: Annual CPI at 1.7% in January

According to data released today by Destatis, German annual inflation rose 1.7% in January, down from +2.1% registered the previous month. This result is in line with analysts' forecasts. On a monthly basis German CPI fell 0.5% in January, after growing 0.9% in December, as expected.
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