EURUSD Chart Technical Outlook

EURUSD Chart Technical Outlook awaits clues from CPI data, bulls are more enthusiastic

EUR/USD might have completed a three-wave corrective structure WXY. Prices stalled at a previous swing low from last December. There is scope for an upside price action.

The US CPI data is due today, with an expected decline. The recent data from the US was strong, challenging inflation to cool down, while the revisions showed lower figures. This might bode in a weaker outcome.

Investors price more than the Fe projects regarding rate cuts this year. A soft print would spur a sell-off in USD and higher prices in EUR/USD.

Resistances: 1.0825, 1.0880
Supports: 1.0725, 1.0660

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