EUR/USD Holds Above 1.37 with a Risk-on Rebound; A Look at the 1.3845 Pivot

From fxtimes.com

The EUR/USD made a new low during the 3/27 session, but found support above 1.37 during the 3/28 European session. As we get into the US session, the 4H EUR/USD chart shows a rebound. CPI: There was preliminary CPI data from Germany for March. It came in at 0.3%, which was lower than the 0.5% in February, and missed forecasts of 0.4%. The ECB has shown concern about deflationary risk, and since Germany is the main EU economy right now, this report should add pressure to the EUR. Risk-on: However risk-on trading dominated early US session, and the S&P500 rebounded from a 8-day low near 1840 to about 1860, and ... (full story)