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.