German Inflation in sight

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Later today, the German Federal Statistical Office will post September CPI, expected flat on year. Tomorrow, August Retail Sales will be expected at +0.5% on month, vs -0.9% in July. Unemployment rate will also be released, expected at 4.6%.

From a technical point of view, on a daily chart, EUR/USD has broken below a rising trend line and stands below its 50-period moving average (in blue). Readers may therefore consider the potential for further weakness below horizontal resistance at 1.1850. The nearest threshold would be set at previous overlap at 1.1500 and a second one would be set at horizontal support at 1.1370.

Source: TradingView, GAIN Capital

Related tags: EUR Forex Forex

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