<Fundamental>
The Eurozone CPI recorded a year-on-year increase of 2.5% (previous: 2.4%, consensus: 2.5%), fueling concerns over inflation. Belgian central bank governor Pierre Wunsch emphasized the need for caution against excessive rate cuts without sufficient awareness of risks.
Meanwhile, Germany’s February Ifo Business Climate Index came in at 85.2 (previous: 85.2, consensus: 85.9), further exacerbating uncertainty surrounding the Eurozone economy.
<Technical>
After testing the resistance at 1.0530, EURUSD retreated below the EMA21. However, the price is still maintaining its bullish momentum above the ascending trendline. If EURUSD breaches above 1.0530, it could gain upward momentum toward 1.0630. Conversely, a break below 1.0455 and the trendline may lead to a further decline toward the support at 1.0400.
The Eurozone CPI recorded a year-on-year increase of 2.5% (previous: 2.4%, consensus: 2.5%), fueling concerns over inflation. Belgian central bank governor Pierre Wunsch emphasized the need for caution against excessive rate cuts without sufficient awareness of risks.
Meanwhile, Germany’s February Ifo Business Climate Index came in at 85.2 (previous: 85.2, consensus: 85.9), further exacerbating uncertainty surrounding the Eurozone economy.
<Technical>
After testing the resistance at 1.0530, EURUSD retreated below the EMA21. However, the price is still maintaining its bullish momentum above the ascending trendline. If EURUSD breaches above 1.0530, it could gain upward momentum toward 1.0630. Conversely, a break below 1.0455 and the trendline may lead to a further decline toward the support at 1.0400.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.