EUR/USD rises back in the vicinity of the 1,0870, US CPI in focus

FXStreet – The shared currency attempted a slight recovery, while the EUR/USD at the lower end of its week’s range at 1,0870/60 is traded.

EUR/USD focus on US data

The Pair is since Monday on the retreat, after it was on the multi-month high in the area of the 1,1020/25 failed. The recovery of the Greenback is supported by the rising expectations of a Fed rate hike in June.

The markets have priced in the possibility of a rate increase next month is already more than 80% and were able to recover and the US yields, although it comes currently to a decrease in the dynamics. The German yields also attracted the resistor and the Cap to the American counterpart remains intact.

The final reading of Inflation in Germany for the month of April of the previous estimate corresponded to, while the Flash GDP result showed that the economy grew in Q1 on a quarterly basis by 0.6% and year-on-year by 1.7%.

Market participants now await the US data in the afternoon. Here is the April CPI, retail sales and the may consumer sentiment .

Add to this the Talk by Chicago Fed C. Evans (voter, centrist) and the Dallas Fed P. Harker (voter, hawkish).

EUR/USD analysis: downside potential continues to

EUR/USD significant levels

Currently, the daily gain of 0.02% in 1,0864 and the next Resistances is at 1,0900 (to the power of 10. May), 1,0916 (Fibo 23.6% on the April-to-may rally) and 1,0935 (High-9. May). On the other hand, supports are located at 1,0838 (Deep 11. May), 1,0826 (200-day SMA) and 1,0819 (Deep 24. April).

** FXStreet News Editorial, FXStreet**

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