The euro is under pressure. Growth in producer prices in the Eurozone slowed
The single currency is under pressure against the US dollar during the European session, amid the widespread strengthening of the US currency, and also due to weak data on producer prices in the euro area.
- According to published data, the producer price index in December rose by 0.2%, against the November growth of 0.6%. On an annualized basis, the growth slowed to 2.2%, down from the previous level of 2.8%.
Technical analysis: The pair EUR/USD maintains an uptrend in the short term. The main resistance levels are considered at the marks 1,2560, 1,2600. Support levels are 1,2400, 1,2340.
Key recommendations: For this pair, it is worth considering both sales and purchases from the above-mentioned levels of support and resistance, while the stop-loss should not be more than 40 points, the potential profit in the region of 60-80 points.
Fig. EUR/USD. The current price is $ 1.2482.
Alexander Sivtsov