Overall, EUR/USD is trending downwards. Recently, EUR/USD traded into the resistance zone of 1.16300.
The eurozone CPI flash estimate y/y data released last Friday indicated that annual inflation rose to a 13-year high level in September. The rise was mainly due to higher energy prices and it is expected to last throughout the upcoming winter.
The Eurogroup meetings will be held today. During this time, there may be volatility in EUR.
Currently, EUR/USD is testing the resistance zone of 1.16300 and the next support zone is at 1.15000.
Look for selling opportunities of EUR/USD if it bounces off the resistance zone of 1.16300.
The eurozone CPI flash estimate y/y data released last Friday indicated that annual inflation rose to a 13-year high level in September. The rise was mainly due to higher energy prices and it is expected to last throughout the upcoming winter.
- CPI Flash Estimate y/y (Actual: 3.4%, Forecast: 3.3%, Previous: 3.0%)
- Core CPI Flash Estimate y/y (Actual: 1.9%, Forecast: 1.9%, Previous: 1.6%)
The Eurogroup meetings will be held today. During this time, there may be volatility in EUR.
Currently, EUR/USD is testing the resistance zone of 1.16300 and the next support zone is at 1.15000.
Look for selling opportunities of EUR/USD if it bounces off the resistance zone of 1.16300.
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