Today the EUR/USD shared currency pair is trading in the close vicinity of the 1.1700 low level and it is showing some signs that it will be climbing a little towards the 1.1730 level but without any solid support it will quickly turn down again.
EUR/USD analysts now believe that the shared currency pair will continue to act edgy today at the end of the trading week and it will be receiving direct influence from the USD data releases as well as from the ongoing geopolitical growing tensions.
EUR/USD traders hope that the release of the United States inflation data will come in as everyone predicts nonetheless the release of the CPI data will bring a softer tone to the overall trading process.
Across the ocean in the United States the release of the consumer figures will bring an increase of +1.9% on a yearly basis and an increase of +1.5% on a month to month basis.
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High = 1.1740
Low = 1.1690
S3 = 1.1678 S2= 1.1735 S1 = 1.179\2
R1 = 1.1712 R2 = 1.1771 R3 = 1.1830
For the time being the EUR/USD shared currency pair is going downwards by a negative value of -0.14% and it is trading in the proximity of the 1.1753 level thus by breaching the 1.1719 level this will clear the path towards the 1.1701 level followed close up by the 1.1612 level.
On the other side of the medal there are several solid levels beginning with the 1.1798 level followed close up by the 1.1825 point and lastly ending with the 1.1894 level.