German PPI Falls To 0.0% In May, EURUSD Tests Support !

Forex 12654

The German Producer Price Index (PPI) measures the change in the price of goods sold by manufacturers.

The German Producer Price Index fell to 0.0% , from 0.1% in previous month, German PPI was expected to rise to 0.2% last month.

(Year-Over-Year) German Producer Price Index fell to -1.3%, from -1.5%  in the previous month, (YoY) German PPI was expected to rise to -1.1% last month.

Market Impact : According to the 4-hour chart. The pair loses the upside momentum, immediate support comes at the 1.1338 levels, a cut through the 1.1338 levels on a 4-hour closing basis will suggest short term topping at the 1.1435 levels, If seen, 1.1338 will turn from support  to resistance, and focus will be shifted on the 1.1205 levels, further down, support comes at the 1.1132 levels .

On the upside, a failure to hold below the 1.1338 levels on a -hour closing basis, could mean a return to the 1.1435 levels.If this resistance 1.1435 is taken out, the pair will extend gains towards the 1.1533 levels.


German PPI Falls