Dollar under pressure after US CPI numbers - FXStreet

By FXstreet.com | July 22, 2014 AAA

FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik observes that the USD came under pressure following the release of CPI numbers today.

Key quotes



"US inflation data came out showing both year and monthly readings in line with expectations, but core numbers increased less than expected in June, putting the dollar under pressure across the board."



"But not before the EUR/USD posted a fresh year low of 1.3458: the hourly chart shows indicators maintaining the bearish slope despite in oversold levels, with price hovering around 1.3475 and well below moving averages."



"In the 4 hours chart the bearish momentum is quite strong, all of which favors a downward continuation towards fresh year lows."



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