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EUR/USD hovers around hourly 200-MA, stocks waver

FXStreet (Mumbai) - The EUR/USD pair is trading around its hourly 200-MA located at 1.1232 levels as traders turned a blind eye towards the Eurozone sentiment figures and remain focused on the volatile stock markets.

Awaits German CPI

Fresh bids came-in at the session low of 1.1219 as the major stock market indices in the Europe fell back into losses once again. The German DAX had recovered losses to trade 0.6% higher, before falling into the red again. The better-than-expected Eurozone consumer confidence and sentiment indices were overshadowed by the investor’s fixation with the movement in the equities.

Meanwhile, the sell-off in the EUR/GBP halted as well after losses in shares of Glencore capped gains in Sterling. The focus now shifts to the German CPI figure which could show the cost of living ticked lower on account of the drop in energy prices.

EUR/USD Technical Levels

At 1.1235, the immediate support is seen at 1.12 levels, under which the losses could be extended to 1.1146 (Sep 28 low). On the other side, resistance is seen at 1.1281 (daily high) and 1.13 levels.

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