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The EUR / USD is marking new highs this afternoon.
The Euro Dollar is indeed rather volatile on the Forex following the powerful movement of the day before. After the failure under the 1.1400, EUR / USD had begun a bearish correction this morning, but found support around 1.1350 and back on the Forex.
The movement is intensifying this afternoon, despite the German CPI which disappointed at 0.1% m / m and 2.3% y / y against 0.2% and 2.4% expected.
However, more importantly, the core US PCE also disappointed by appearing at 1.8% y / y against 1.9% expected and previously, including a downward revision of the previous month's figure. That gives grist to the dovish at the Fed.
The Euro Dollar pushed a little higher, marking a new marginal high at 1.1401.
The pair is returning to bullish pressure this afternoon, and could still push to get the strongest resistance zone to 1.1410 / 20.
A break above 1.1420 could encourage a more significant bullish reversal in the short term, with targets at 1.1450 and 1.1470 at first.
The first support comes to 1.1385 / 1.1375, before 1.1355 / 50.
Below we will still have the 1.1330 / 25, before a return to 1.1300 and 1.1275 is more likely.
Currently, the EUR / USD is trading around 1.1390 on Forex.
EUR / USD H1 Chart
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