The EUR/USD has reacted to US producer price data with a drop of almost 65 pips to fresh daily lows at 1.0503. At time of writing, the pair is recovering some of the lost ground and is trading above 1.0535, shedding 0.19% daily.
The index of US producer prices it grew 7.4%, as expected, down from 8.1% (revised from 8%) in the previous month. However, excluding food and energy, the most volatile elements, the indicator rose 6.2%, above the 6% consensus, although below the 6.7% in October.
The data reignited market fears as it reflects still-strong inflation, which could give the Fed momentum to continue its pace of rate hikes. For now, Wall Street has opened lower, with the Dow Jones falling 0.25% to 33,698.27 points.
The operators will be very aware now of the data of consumer sentiment from the University of Michiganas it could also cause the currency pair to swing.
EUR/USD Technical Levels
EUR/USD
Panorama | |
---|---|
Last Price Today | 1.0539 |
Today’s Daily Change | -0.0017 |
Today’s Daily Change % | -0.16 |
Today’s Daily Open | 1.0556 |
Trends | |
---|---|
20 Daily SMA | 1.0402 |
SMA of 50 Daily | 1.0085 |
SMA of 100 Daily | 1.0062 |
SMA of 200 Daily | 1.0355 |
levels | |
---|---|
Previous Daily High | 1.0565 |
Minimum Previous Daily | 1,049 |
Previous Weekly High | 1.0545 |
Previous Weekly Minimum | 1,029 |
Maximum Prior Monthly | 1.0497 |
Minimum Prior Monthly | 0.973 |
Daily Fibonacci 38.2% | 1.0536 |
Daily Fibonacci 61.8% | 1.0518 |
Daily Pivot Point S1 | 1.0508 |
Daily Pivot Point S2 | 1.0461 |
Daily Pivot Point S3 | 1.0433 |
Daily Pivot Point R1 | 1.0584 |
Daily Pivot Point R2 | 1.0612 |
Daily Pivot Point R3 | 1.0659 |
Source: Fx Street

I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.