Here is an important intraday trading area for this pair today :
Breakout Buy level : 1.3130.
Strong Resistance : 1.3123.
Original Resistance : 1.3110.
Inner Sell Area : 1.3097
Target Inner Area : 1 .3066
Inner Buy Area : 1 .3035.
Original Support :1.3022.
Strong Support : 1.3009.
Breakout Sell level :1 .3001
Market Outlook :
U.S. producer price index rose for the second month in a row in August as energy costs increase, this will moderate concerns about deflation in the economy. Government reported that inflationary pressures are still very low. Not taking into account more volatile food and energy prices, producer prices rose only by 0.1%. The report showed the economy continued to avoid the slide into deflation danger, but some economists still see the risk of a fall in prices and wages in the future. U.S. economic recovery has lost power and inflation slowed to around 1.0% below the Federal Reserve's informal target. Last month the Fed got back the purchase of a small amount of government debt in an effort to suppress the initial growth. As the economy is so low, some Fed officials offer to start re-purchase of large assets, similar to the program that was used to struggle the financial crisis
