EUR/USD Daily Forecast – U.S. Dollar Is Mostly Flat Ahead Of Inflation Data

EUR/USD declined below the support level at 1.1300 and is trying to gain additional downside momentum.

Euro Lacks Momentum Ahead Of The Weekend

EUR/USD continues its attempts to settle below 1.1300 while U.S. dollar is gaining ground against a broad basket of currencies.

The U.S. Dollar Index is testing the resistance level at 96.25. A move above this level will open the way to the test of the resistance at 96.50 which will be bearish for EUR/USD.

is expected to grow by 6.8%. Core Inflation declined from 67.4 in November to 67.1 in December.

EUR/USD declined below 1.1300 and is trying to develop additional downside momentum. In case this attempt is successful, EUR/USD will move towards the support at 1.1270.

A successful test of the support at 1.1270 will push EUR/USD towards the next support at 1.1230. If EUR/USD manages to settle below this level, it will head towards the support at 1.1200.

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