Euro Technical Outlook: EUR/USD Testing Key Support Break
Euro has plunged more than 2.8% off the monthly highs with the bears attempting to break technical support ahead of tomorrow's U.S. inflation report.
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EUR/USD, inflation expectations and Federal Reserve policy are back in focus as the euro breaks to fresh yearly lows. Michael Boutros, FOREX.com Senior Market Analyst, examines the key technical breakdown levels, downside targets, and how upcoming PCE inflation data and Non-Farm Payrolls could reshape Federal Reserve rate expectations and the next major move for EUR/USD.
This content was created by an affiliate of FOREX.com and represents the views and opinions of the author/speakers, not the views and opinions of Forex.com, StoneX Group Inc., or its subsidiaries. The content has not been independently reviewed by FOREX.com.
Key EUR/USD Economic Data Releases
Economic Calendar - latest economic developments and upcoming event risk.
Active Short-term Technical Charts
- US Dollar Short-term Outlook: USD Breakout Targets Next Major Resistance
- British Pound Short-term Outlook: GBP/USD Rebound Challenges Bear Trend
- Canadian Dollar Short-term Outlook: USD/CAD Overbought Rally Faces Breakout Resistance
- Gold Price Short-term Outlook: XAU/USD Bulls Fight to Confirm Major Low- Fed on Tap
- Australian Dollar Outlook: AUD/USD Rebound Eyes Downtrend Resistance Ahead of Fed
- Japanese Yen Short-term Outlook: USD/JPY Rally Stalls at Intervention Zone
- Swiss Franc Short-term Outlook: USD/CHF Breakout Faces First Major Test
Written by Michael Boutros, Senior Technical Strategist
Follow Michael on X @MBForex
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