EUR/USD gained sharply above 1.14500 as US CPI rose. It hit an intraday high of 1.14889 and currently trading around 1.14642.
|
Indicator |
May-25 |
Apr-25 |
Consensus |
|
CPI m/m |
0.20% |
0.20% |
0.20% |
|
Core CPI m/m |
0.30% |
0.20% |
0.30% |
|
CPI y/y |
2.40% |
2.30% |
2.40% |
|
Core CPI y/y |
2.90% |
2.80% |
2.90% |
The pair is holding above short and long-term moving averages in the 4-hour chart. Near-term resistance is seen at 1.1500; a break above this may push the pair to targets of 1.1600. Major bullish momentum is likely only if prices can break above 1the .160 target of 1.1660. On the downside, support is seen at 1.13700 any violation below will drag the pair to 1.135/1.1300/1.1265/1.1200/1.1150/1.1090/1.1050/1.100.
Market Indicators and Trading Strategy
Commodity Channel Index (CCI)- Bullish
Average Directional Movement Index (ADX) - Neutral
It is good to buy on dips around 1.1435-38 with a stop-loss at 1.1370 for a target price of 1.1600.


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