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Single Currency Strikes Lows on Soft M/M German CPIs

EUR
  • Fresh pullback lows for EUR on the back of the German CPIs, pressing EUR/USD to fresh lows of 1.0829, extending the weakness off yesterday's highs to over 50 pips.
  • EUR/GBP downside puts the cross at new YTD lows and the lowest level since mid-2022. Key move here is the break of key support at 0.8493, which opens weakness toward 0.8454, the 76.4% retracement for the Mar 7 - Sep 26 '23 bull phase.
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  • Fresh pullback lows for EUR on the back of the German CPIs, pressing EUR/USD to fresh lows of 1.0829, extending the weakness off yesterday's highs to over 50 pips.
  • EUR/GBP downside puts the cross at new YTD lows and the lowest level since mid-2022. Key move here is the break of key support at 0.8493, which opens weakness toward 0.8454, the 76.4% retracement for the Mar 7 - Sep 26 '23 bull phase.