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Forex Fundamental Analysis: The profit taking led to the dollar decrease

Forex Fundamental Analysis: The profit taking led to the dollar decrease

The profit taking led to the dollar decrease

12 December 2014, EUR/USD

Euro

The dollar grew against the euro. Earlier the euro was persistently rising against the dollar in the absence of any fundamental supports. The EU statistics will show the November and France final November inflation assessment. It is assumed that we will not see changes in the initial results, the first and the second EU economy consumer price index (CPI) will remain the same + 0.4% y/y and 0.6% y / y, respectively. The pair euro/dollar could find a support around 1.2330-1.2350. The demand for euro remained here which allowed the pair to rise up to 1.2425-1.2445 and to test the resistance level of 1.2500-1.2520. Bears continue to protect the 25th figure, pushing the pair below the support at the level of 1.2405-1.2425.

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