EUR/USD, H4 18 March 2024
The EUR/USD pair experienced a significant decline in the recent session and is currently hovering above the 1.0866 level. Market attention is focused on the Eurozone's CPI reading, which is scheduled for later today. Projections suggest that the CPI reading may come in lower than the previous figure, signalling a potential easing in inflationary pressures. If the actual CPI reading falls below expectations, it could exert additional downward pressure on the pair.
EUR/USD has found support and consolidation after its significant plunge from the last session. Suggesting the pair's bearish momentum remains intact.
Resistance level: 1.0960, 1.1040📉
Support level: 1.0870, 1.0775📈
The EUR/USD pair experienced a significant decline in the recent session and is currently hovering above the 1.0866 level. Market attention is focused on the Eurozone's CPI reading, which is scheduled for later today. Projections suggest that the CPI reading may come in lower than the previous figure, signalling a potential easing in inflationary pressures. If the actual CPI reading falls below expectations, it could exert additional downward pressure on the pair.
EUR/USD has found support and consolidation after its significant plunge from the last session. Suggesting the pair's bearish momentum remains intact.
Resistance level: 1.0960, 1.1040📉
Support level: 1.0870, 1.0775📈