EUR/USD Analysis: Appreciates to PP at 1.1368
|GBPUSD
During Tuesday's trading session, the European Single Currency appreciated against the US Dollar to break the resistance levels of the monthly S1 at 1.1301 and the bottom boundary of the dominant pattern line at 1.1240. On Wednesday morning, the rate was supported by the 200-hour SMA at the 1.1318 mark.
In regards to the near-term future, most likely, the currency exchange rate will surge towards the weekly pivot point at 1.1368. Note, the 200-hour simple moving average should support the surge during the day.
However, today's US CPI and Core CPI data release at 13:30 GMT could turn the rate towards the dominant pattern line at the 1.1240 mark.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.