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Forex Fundamental Analysis:The EUR/USD is targeted to the new lows

Forex Fundamental Analysis:The EUR/USD is targeted to the new lows

Euro

The euro was traded against the dollar in multidirectional directions in the narrow range and by the last session it ended with a small "profit." According to the January forecast, the price pressure will further move to the deflationary territory and the CPI index shall show 0.5% y/y vs. -0.2% y/y in December. The pair euro/dollar is unable to continue its recovery. Its growth attempts have been limited by the resistance near 1.1340-1.1360, although its demand on dips is still preserved. The bulls’ inability to overcome the current maximum can lead to the downtrend resumption.

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