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EUR/USD Price Forecast: Biding its time near 1.1550, awaiting US CPI numbers
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FXStreet Forex & Commodities News
The Euro (EUR) nurses marginal gains against the US Dollar (USD) on Wednesday, with the EUR/USD pair flattening just below the 1.1550 level during the European trading session.
FX volatility remains at unusually low levels as investors await the release of US Consumer Price Index (CPI) data to place directional bets on the USD.
Technical Analysis: EUR/USD wavers in range lacking a clear biasEUR/USD trades at 1.1535, holding in a neutral range between nearby structural levels.
Bullish attempts were capped at 1.1580 last week, below the Mid-June highs at the 1.1620 area and the May 29 high, at 1.1685.
On the downside, the 1.1500 area held bears last week ahead of a previous resistance area around 1.1480.