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EUR/USD a tad weaker on German data

FXStreet (Edinburgh) - The single currency remains in session lows vs. the dollar on Wednesday, with EUR/USD around 1.1235/30 band so far.

EUR/USD softer post-data

The pair is losing further ground after German retail sales have disappointed investors during August, contracting at a monthly pace of 0.4% and taking the annual expansion to 2.5%, vs. forecasts at 0.2% and 3.1%, respectively.

Spot is coming down from overnight tops around 1.1260, trading within the recent range ahead of today’s critical inflation figures in the euro area. Following yesterday’s softer-than-expected Spanish and German CPI, markets expectations see core CPI rising 0.9% on a year to September, matching August’s reading.

EUR/USD levels to watch

As of writing the pair is losing 0.12% at 1.1234 and a breakdown of 1.1194 (low Sep.29) would aim for 1.1146 (low Sep.28) and then 1.1105 (low Sep.23). On the other hand, the initial resistance aligns at 1.1281 (high Sep.29) followed by 1.1296 (high Sep.24) and finally 1.1330 (high Sep.21).

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