EUR/USD sees chart driven recovery from 14-year low

Oversold Chart factors came into play in Asia, helping the EUR/USD pair to recover from the 14-year low of 1.0336 to 1.0430 levels.

Eyes Eurozone CPI & US housing data

The data due in the Eurozone are likely to show the cost of living as represented by the consumer price index (CPI) rose 0.6% y/y in November. Unless, the actual figure misses/beats estimates by a wide margin, a ‘strong dollar’ story is likely to continue. 

Later in the day, US housing starts and building permit number could influence the pair. 

EUR/USD Technical Levels

The spot was last seen trading around 1.0420. A failure to hold above 1.04 could yield a revisit to 1.0336 (Thursday’s low) and 1.03 (zero figure). On the other hand, breach of 1.0468 (hourly chart resistance) would expose 1.05 (zero figure), above which a major hurdle is seen directly at 1.0634 (hourly 200-MA).