EURUSD Chart Technical Outlook moves sideways after stubborn US inflation data
The EUR/USD broad bias is bullish. Prices stalled at the support zone of 50% and 61.8% Fibo levels. The upward momentum is weak.
The US inflation data didn’t help bulls to lead the market. A more-than-expected print and hawkish comments from Fed’s Mester weighed on the pair. Investors eye the US Producer Price Index and Kashkari’s speech for more clues.
I expect more sideways today and an attempt to retest the support zone.
Resistances: 1.1040, 1.1125
Supports: 1.0910, 1.0790
