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."



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    A Fundamental Push for Key EURUSD, GBPUSD and USDJPY Levels?

  2. Forex News

    EURUSD and GBPUSD Will Decide Make-or-Break In Holiday Trading Conditions

  3. Forex News

    Holiday Conditions and Record Equities Remind of Bigger Liquidity Risks

  4. Forex News

    Greek optimism hitting brick wall - BBH

  5. Forex News

    EUR/USD re-focused on 1.1000

Trading Center