EURUSD Chart Technical Outlook trades at a previous swing low ahead of the US’s CPI data
EUR/USD is under pressure due to stronger USD. The pair trades close to a previous swing low at 1.0595. Below that level, there is a barrier at 1.0520. Today’s US inflation data will be a trigger factor. The forecast for the headline inflation YoY is 2.6% versus a prior 2.4%, while the core inflation YoY is expected to be unchanged at 3.3%. Figures below the forecast would give the reasons for profit-taking, and prices should bounce higher. If the figures exceed the forecast, prices should break lower to the mentioned support level. Resistances are seen at 1.0725 and 1.0815.
