German Wholesale prices on the upside

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By :  ,  Financial Analyst

German Wholesale prices on the upside

Earlier this morning, German September Wholesale prices were released at +1.8%, vs -1.6% on year expected. On a monthly basis, they were released at +0.0%, vs +0.2% expected. Tomorrow, September inflation rate will be published.

From a technical point of view, on a 30-min chart, EUR/USD stands above a strong horizontal support at 1.1795 and is supported by its rising 50-period moving average (in blue). Readers may therefore consider the potential for further advance above 1.1795. The nearest threshold would be set at Oct. 9 top at 1.1830 and a second one would be set at horizontal resistance at 1.1855.

Source: TradingView, GAIN Capital

Related tags: Forex Forex Germany

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