EUR/USD Price Analysis: Bulls find comfort above the 1.0700 level after the US CPI release EURUSD Fed InterestRate CPI
A successive break to the 50-DMA, which also coincides with a 38.2% Fib level, will reinforce the EUR/USD toward the next resistance zone starting from the 1.07942 level.
Downside momentum may resurface due to delicate market conditions, particularly as we experienced financial turbulence earlier this week, this could potentially stimulate demand for the safe haven US Dollar. Any downside price pressure is likely to be limited around the 23.6% Fib level at 1.0660, which coincides with both the previous day’s low as well as 21-DMA.Information on these pages contains forward-looking statements that involve risks and uncertainties.
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