EURUSD Chart Technical Outlook trades at a pivotal barrier ahead of the US CPI data
EUR/USD has been trading higher, possibly indicating the completion of the downward corrective move or the potential extension into a regular flat structure. The upcoming US CPI data release is a crucial event that is expected to significantly influence investor sentiment. The previous swing high of 1.1000 is the key resistance point, while supports are situated at 1.0960-1.0930.
The forecast range for the Core CPI MoM is 0.1%- 0.2%, and for YoY, it is 3.2%- 3.3%. The headline CPI MoM range is 0.1%- 0.2%, and for YoY, it is 2.9%- 3.0%.
