- The dollar gains moment before US data (inflation and unemployment benefit requests).
- EUR / USD remains below its 20-day average, above 1.1520.
The EUR / USD is falling on Wednesday and for the moment it erases the gains of the previous three days. The pair fell to 1.1545, the lowest since Friday. In the previous US data it moves around 1.1550, in a context of generalized strength of the dollar.
The The greenback is rising after days of some weakness, driven in part by a rebound in Treasury yields. Key US data, including retail inflation, will be released at 13:30 GMT. The Consumer Price Index is expected to show a 0.4% rise in October. The data can shape expectations about the monetary policy of the Federal Reserve.
Short-term outlook
The rebound from the EUR / USD year low encountered strong resistance at the 1.1600 area, where the 20-day moving average is also passing. The euro needs to leave this area behind to enable more raises. At 1.1615 there is another resistance to consider (where the November highs are), but ahead, the target is at 1.1670.
The very short-term tone now favors the dollar. A confirmation below 1.1550, would increase the pressure for a retest at 1.1520, a significant support, protecting 1.1500.
Technical levels
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