EURUSD: Bears Target Lower Levels Ahead of CPI Release
Tuesday, 10 September 2024, 04:58
Bears Target Key Support Levels
In recent trading, the EUR/USD has edged lower through the NY crossover, reflecting a particularly muted price action. As bears focus on the significant intraday support at 1.1028, the downside potential remains a central theme.
Anticipation of CPI Data
With tomorrow's inflation print on the horizon, this critical announcement is poised to impact market dynamics. Traders are preparing for potential reactions that could drive the euro either higher or push it further toward support levels.
Market Reactions
- The economic indicators will significantly influence investor sentiment.
- Potential volatility could emerge as traders adjust their positions.
- Monitoring CPI results closely is essential for forecasting short-term movements.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.