Overall, EUR/USD is ranging across. Recently, EUR/USD broke above the key level of 1.18.
The eurozone CPI flash estimate y/y data released yesterday indicated a strong rise in annual inflation in July, surpassing the European Central Bank’s 2% inflation target.
Yesterday, European Central Bank governing council member Robert Holzmann highlighted in an interview that the central bank should begin discussing quantitative easing tapering during the monetary policy meeting next week as the euro-area economy is recovering broadly as expected.
The eurozone Unemployment Rate data (Forecast: 7.6%, Previous: 7.7%) will be released later at 1700 (GMT+8).
Currently, EUR/USD is testing to break below the key level of 1.18. Its next support zone is at 1.17600 and the next resistance zone of 1.19000.
Look for buying opportunities of EUR/USD if it bounces up from the key level of 1.18.
The eurozone CPI flash estimate y/y data released yesterday indicated a strong rise in annual inflation in July, surpassing the European Central Bank’s 2% inflation target.
- CPI Flash Estimate y/y (Actual: 3.0%, Forecast: 2.7%, Previous: 2.2%)
- Core CPI Flash Estimate y/y (Actual: 1.6%, Forecast: 1.5%, Previous: 0.7%)
Yesterday, European Central Bank governing council member Robert Holzmann highlighted in an interview that the central bank should begin discussing quantitative easing tapering during the monetary policy meeting next week as the euro-area economy is recovering broadly as expected.
The eurozone Unemployment Rate data (Forecast: 7.6%, Previous: 7.7%) will be released later at 1700 (GMT+8).
Currently, EUR/USD is testing to break below the key level of 1.18. Its next support zone is at 1.17600 and the next resistance zone of 1.19000.
Look for buying opportunities of EUR/USD if it bounces up from the key level of 1.18.
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