EURUSD remains bearishly aligned after yesterday’s fall; US CPI data in focus for fresh signals
|The Euro bounces above 1.1900 handle on Thursday, consolidating after strong fall on Wednesday.
Bearish acceleration was contained by daily Kijun-sen (1.1877) which now acts as initial support.
Bulls on daily chart studies are losing traction and showing increasing risk for further extension of pullback. Sustained break below Kijun-sen pivot would open support at 1.1826 (Fibo 61.8% of 1.1662/1.2092 rally) with stronger bearish acceleration seen on violation.
Initial resistance at 1.1920 remains intact for now, with stronger recovery attempts to open 10SMA at 1.1934 and pivotal daily Tenkan-sen at 1.1979.
US inflation data are expected to be the key driver today.
Res: 1.1920; 1.1934; 1.1979; 1.2000
Sup: 1.1877; 1.1826; 1.1800; 1.1763
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.