The euro is on its own schedule today.
The US dollar is bouncing broadly as the memory of the inflation figures fade. What was interesting about EUR/USD is that the euro gained next-to-no traction on the CPI numbers. It’s a sign that heavy offers are coming into the market as the 1.3500/1.3474 zone of support breaks.
EUR/USD daily
There isn’t much support on the chart until 1.3400. We’ve already had a death cross with the 55-dma falling below the 200-dma and now the 100-dma is turning lower. The earlier session low was 1.3459, last at 1.3468.
