Forex: EUR/USD attempts a bounce after EMU CPI

FXstreet.com (Barcelona) - The final inflation figures of the euro area left no room for surprises in April, rising 1.2% over the last twelve months and contracting 0.1% on a monthly basis, banging on estimates. Further data showed that the trade surplus increased to €22.9 billion in March, beating forecasts at €13.0 billion and February’s €10.1 billion. The single currency is picking up pace now, hovering over 1.2870/75 although keeping the red territory.

At the moment the cross is down 0.12% at 1.2869 and a break below 1.2843 (low May 15) would open the door to the psychological mark at 1.2800 and finally 1.2740 (2013 low Apr.14).
On the flip side, resistance barriers are located at 1.2889 (high May 16) followed by 1.2943 (high May 15) and then 1.3002 (MA30d).