FxWirePro: EUR/USD edges higher from session lows at 1.1359, EZ CPI data in focus

Upbeat U.S. inflation data on Thursday gave the dollar some relief, having been battered by a run of poor U.S. indicators and concerns about China's economy.

• The euro slipped to $1.1359, down from a 7-week peak of $1.1495 scaled the previous day after ECB's Nowotny's comments
   
• The common currency was on track to end the week effectively flat, monthly charts however lean bullish as RSI is biased up
   
• A run towards the Aug high looks likely, daily charts suggest a pullback as RSI diverges and a bear engulfing candle was seen yesterday
   
• Market focus on ECB executive board member Benoit Coeure's speech later in the day along with EZ CPI data for further momentum
   
• EUR/USD is currently trading at 1.1386, with immediate support at 1.1377 (hourly Tenkan and 10 MA) and resistance at 1.14 (psychological level)
   

Resistance Levels:

R1: 1.14 (psychological level)

R2: 1.1495 (Session High Oct 15)

R3: 1.1520 (Hourly High Aug 26)

Support Levels:

S1: 1.1377 (hourly Tenkan and 10 MA) 

S2: 1.1363 (Session low Oct 15)

S3: 1.1345 (Daily Low Oct 13)