FXStreet (Edinburgh) – EUR/USD is now attempting to consolidate around 1.0660/65 ahead of the US inflation figures due later.
EUR/USD finds support near 1.0640
Spot has intensified its correction lower after breaking below the critical 1.0700 support on Monday during the NA session, extending the drop to today’s troughs around 1.0640, where it found some decent support ahead of US CPI.
In fact, October’s inflation figures are due across the pond, with consensus expecting headline CPI to have advanced 0.1% on a yearly basis, while the core reading is seen at 1.9% YoY.
EUR/USD levels to watch
As of writing the pair is losing 0.18% at 1.0665 facing the next support at 1.0600 (psychological level) ahead of 1.0519 (low Apr.13) and finally 1.0456 (2015 low Mar.16). On the other hand, a breakout of 1.0807 (downtrend from 1.1496) would target 1.0829 (high Nov.12) en route to 1.1076 (200-day sma).
(Market News Provided by FXstreet)