- EUR/USD broke to three-week highs this Thursday as the European Central Bank’s (ECB) minutes showed opposition to QE (Quantitative Easing).
- In the United States, the Core Consumer Price Index (CPI) matched analysts’ expectations at 2.4% YoY and EUR/USD eased from daily highs.
EUR/USD daily chart
On the daily chart, the shared currency is trading in a bear trend below its main daily simple moving averages (DSMAs). This Thursday in Europe, the European Central Bank’s (ECB) minutes showed opposition to QE sending EUR/USD above the 1.1000 figure. However, in the New York session, the US Core Consumer Price Index (CPI) came out at 2.4% YoY matching forecasts and EUR/USD eased about 25 pips from daily highs.
EUR/USD four-hour chart
EUR/USD 30-minute chart
The Fiber is trading above its main SMAs, suggesting bullish momentum in the near term. Support can be seen at the 1.1000 and 1.0976 support level. A daily close below those levels could mitigate the short term bullish bias.