- Inflation data from the US weaken the dollar slightly.
- Euro continues with a negative bias against the dollar and the pound.
EUR / USD extended the decline and fell to 1.2153, marking a new low for the day. It remains close to 1.2150, under pressure, given a slight recovery in the dollar and the euro weakened. US inflation data did not come as a surprise.
Weakened euro
The EUR / GBP decline may be key factor behind euro weakness. The common currency is the worst performing among the main Europeans. While EUR / USD is in the zone of daily lows, GBP / USD remains in positive territory.
He EUR / USD in the Asian session reached 1.2220, before reversing the trend and falling, approaching last week’s low of 1.2130, and that it is an important support, that if it were to yield, attention would shift to 1.2100.
The intraday tone points to more losses, but it would change if there is a return above 1.2200, which in addition to being an important level, is where the 20-hour moving average is passing.
He EUR / USD’s pullback began with a widespread recovery of the dollar in the market. ANDl DXY is trading in positive territory near 90.30. It was known that annual inflation in the US rose to 1.4%, slightly above the 1.3% expected. The data did not have a significant impact on the market. In the American afternoon, the Fed’s Beige Book will be released.
Technical levels
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