Slowing of German producer prices bearish for EURUSD
Growth of producer prices of industrial products in Germany slowed to 0.3% on the same month a year earlier in August from 1.1% in July. Will the EURUSD decline?
The price chart on 1-hour timeframe shows EURUSD: H1 is trading sideways. The price has breached below the 200-period moving average MA(200) which is level. And the RSI is below 50 level and steady. There is no trend yet formed, traders have to decide when it would be a best time to enter the market.
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