- The dollar in mixed terrain in the previous inflation data of August of the USA.
- EUR / USD maintains a bearish tone, but is still above 1.1800.
The EUR / USD is trading around 1.1810 before US data. The price had previously climbed to 1.1830 before falling to 1.1799, the new low. Like most crossovers in the forex market, the pair is moving sideways with little change from Monday’s close.
In minutes, at 12:30 GMT the US inflation data for August will be published, where a rise in the Consumer Price Index (CPI) of 0.4% and 0.3% in the underlying is expected. The next meeting of the Federal Reserve will be in a week so the price evolution figures will be key to expectations and therefore could have a high impact on the bond market and the dollar.
No clear signals, with a bearish bias
The day chart of the EUR / USD shows a certain bearish bias, although considering that there are several consecutive days with retracements and the close of Monday with a Doji formation, lower ones will require an extra weakness of the euro or a great strength of the dollar.
By 1.1790 the 20-day moving average is passing, and a close clearly below will reinforce the bearish bias. While to rebound here, the EUR / USD could recover moment, at 1.1830 there is the first resistance and then 1.1850 appears.