A strong rally over the last month has seen EURUSD come close to breaking and holding above 1.10 for the first time since November last year. Having failed to hold above earlier in the week, the pair is showing signs of possibly testing these levels again but first it has a tough hurdle to overcome.
Today’s retail sales and CPI inflation reports from the US has given the pair a boost, but will that be enough to mount another serious test of 1.10? If it fails again, could we see a more substantial drop in the pair and if so, where to?
Senior Market Analyst Craig Erlam discusses all of today’s data and gives his analysis of the charts.
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This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Craig Erlam
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