Overall, EUR/USD is trending downwards. Recently, EUR/USD bounced up from the support zone of 1.20750.
The final CPI y/y data released yesterday indicated no revision in the inflation figures from the preliminary release.
The ECB will also be holding a press conference at 2130 (SGT). During this time, volatility is expected of EUR.
The eurozone Consumer Confidence data (Forecast: -15, Previous: -14) will be released later at 2300 (SGT).
EUR/USD’s next support zone is at 1.20750 and the next resistance zone is at 1.23170.
Look for short-term buying opportunities of EUR/USD.
The final CPI y/y data released yesterday indicated no revision in the inflation figures from the preliminary release.
- Final CPI y/y (Actual: -0.3%, Forecast: -0.3%, Previous: -0.3%)
- Final Core CPI y/y (Actual: 0.2%, Forecast: 0.2%, Previous: 0.2%)
The ECB will also be holding a press conference at 2130 (SGT). During this time, volatility is expected of EUR.
The eurozone Consumer Confidence data (Forecast: -15, Previous: -14) will be released later at 2300 (SGT).
EUR/USD’s next support zone is at 1.20750 and the next resistance zone is at 1.23170.
Look for short-term buying opportunities of EUR/USD.