EUR/USD down after US CPI!
Strange moves in the market after CPI? It looks like, but market is in anticipation of FOMC and finaly speach for the end of the year, where most of the ‘players’ are expecting what, miracle!? Ok, EUR/USD is down for more then 100 pips today with no reason, 1.2350/60 support is first line of defense, stronger one down at 1.2240/50, low of the year, Monthly MA200 and previous support from July 2012. Resistance on the way up, 1.2480/500 again, following 1.2570/80 resistance from yesterday! FOMC coming up at 19:00 h (GMT) and all I can say is, don’t trade! 🙂