EURUSD gained above 1.1600 despite strong US CPI data. The pair hit an intraday low of 1.15691 and is currently trading around 1.16003.
August 2026 US CPI came out as expected: headline +0.4% month over month and +3.4% year over year; core +0.2% month over month and +2.4% year over year. While core stayed stable but chilling, the monthly beat was mostly driven by energy (gasoline/fuel oil) in Middle East conflicts. Markets believe this keeps the Fed on track for a 25 basis point increase at the September 16 meeting as inflation is still present but sluggish.
|
Technicals |
CMP -1.16058 |
Trend |
|
|
4-hour chart |
Value |
|
|
|
55 EMA |
1.16169 |
CMP<value |
Bearish |
|
200- EMA |
1.16199 |
CMP<value |
Bearish |
|
365- EMA |
1.16145 |
CMP<value |
Bearish |
|
800-EMA |
1.15841 |
CMP>value |
Bullish |
Major support- 1.15600/1.1500/1.4700/1.1430. Near-term resistance-11.1660/1.1700.
|
Momentum indicator |
Inference |
Value |
|
CCI(50) |
Bearish |
-144.49 |
|
ADX |
Neutral |
Strength increased from 37.45 to 39.55 |
It is good to buy on dips around 1.15970-80 with SL around 1.15668 for a TP of 1.1700/1.1765.
