EURUSD Chart Technical Outlook

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

We will be happy to hear your thoughts

      Leave a reply

      error: Content is protected !!
      Compare items
      • Total (0)