EUR/USD nears 1.1800
EUR/USD touched off the 200-week moving average yesterday, falling to 1.1717. It retested that level earlier today and it held. That created a double-bottom and it's been climbing to the upside since.
The big figure is nearby and so is Tuesday's high of 1.1810. The most-important level is the neckline of the head-and-shoulders around 1.1853. A retest of that might be a spot to sell.
German CPI was in-line with estimates today, or a shade soft. Meanwhile the ECB's Villeroy said the ECB must reduce the 'intensity' of QE.
