EURUSD dips to key technical support. Weaker Eurozone CPI helps the sellers today ...Middle East

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The EURUSD pair recently hit a new session low, testing a critical swing area and the 38.2% Fibonacci retracement level, ranging between 1.0878 and 1.0887. The pair's low touched 1.08829, influenced partly by the Eurozone CPI coming in weaker than expected, which favored the downside. Technically significant, the EURUSD fell below its 200-hour moving average for the first time since November 13. Post the release of U.S. data at 8:30, there was a brief spike above the 200-hour moving average, but this proved temporary as selling pressure resumed.For a stronger bearish bias, the 38.2% retracement of the upward movement from the November 10 low needs to be decisively broken. Notably, a similar

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EURUSD dips to key technical support. Weaker Eurozone CPI helps the sellers today ...Middle East

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