EUR/USD is seeing very steady trade in early Europe, presently at 1.3615. Earlier we had the release of German final April CPI which was confirmed unchanged m/m and +0.7% y/y.
Meanwhile German April wholesale prices came in at +0.1% m/m, -8.1% y/y, pretty much in line with median forecasts of flat and -8.2% respectively.
Talk of decent Sovereign bid down at 1.3560 might well serve to limit downside. Stop loss sell orders said to be gathering down around 1.3530/40. On the topside some offers noted at 1.3620/30, which look like being taken out in the near future.
Technical support 1.3565, resistances 1.3640 and 1.3670.
