US CPI declined to 2.9% on a yearly basis in July compared to a forecast of 3%, prior 3%. On a monthly basis, it rose to 0.20% in line with the estimate. Core CPI came in at 3.2% y/y same as estimate. Core CPI M/M: 0.20% vs 0.20% estimate.
EURUSD is trading in a highly volatile manner after mixed US CPI data. It hit a low of 1.10041 and currently trading around $1.1041.
The near-term support is around 1.1000, any breach below will drag the pair to 1.09775/1.09550. Any indicative beak below 1.09250 will push the pair down to 1.0900.
On the higher side, near-term resistance is at 1.10350, violation above targets 1.1050/1.1070/1.1100.
It is good to buy on dips around 1.1000 with SL around 1.0970 for the TP of 1.1070/1.1100.
