- EUR/USD is hanging at three-week highs at the start of the New York session.
- The US Core Consumer Price Index (CPI) met expectations at 2.4% YoY.
- In Europe, the European Central Bank’s (ECB) minutes showed opposition to QE.
EUR/USD daily chart
On the daily chart, the shared currency is trading in a bear trend below the main daily simple moving averages (DSMAs). Earlier in Europe, the European Central Bank’s (ECB) minutes showed opposition to QE sending EUR/USD above the 1.1000 figure. In the New York session, the US Core Consumer Price Index (CPI) met expectations at 2.4% YoY.
EUR/USD four-hour chart
EUR/USD broke above the 1.1000 figure and hit the 1.1025 resistance while trading above its main SMAs. If the market holds above the 1.1000/1.1025 zone, a run to 1.1080 can be on the cards, according to the Technical Confluences Indicator.
EUR/USD 30-minute chart
EUR/USD is trading above its main SMAs, suggesting bullish momentum in the near term. Support is seen at the 1.1000 and 1.0976 support level. A daily close below the 1.1000 figure would alleviate the short term bullish bias.
Additional key levels