EUR/USD Should Bounce Despite the US CPI
February 10, 2022
EUR/USD Technical Analysis
- EUR/USD should bounce up
- Good US CPI won’t change the main trend
- Look for the 88.6 bounce
- Retest of the previous highs is possible
H4 CHART EUR/USD
- Bounce zone
- Swing high
- Buyers zone
- The final target
The EUR/USD started to drop after the better than expected US CPI. Consumer prices account for a majority of overall inflation. Inflation is important to currency valuation because rising prices lead the central bank to raise interest rates out of respect for their inflation containment mandate. At this point the price is dropping. 1.1290-1.1315 is the possible bounce point. Look for the bounce there for a possible 1.1485 retest.
