EUR/USD & US Core CPI: Further declines ahead of Fed meeting?
Today at 12:30 GMT will be released the US Core CPI for August and market's analysts are expecting a slight increase from 0.1% to 0.2% and with that scenario, we shouldn't expect more volatility during the event, following the mixed data published yesterday in the United States, with retail sales more contracted than expected, while the industrial production declined. However, because it's Friday, we should pay attention to that data, as we may get surprises.
The technical picture for EUR/USD at H4 chart is showing an overall bullish structure above the 200 SMA, as it remains supported by that indicator. Also, the level of 1.1210 is providing a good pivot point for the pair and if we see fresh momentum in coming hours that favours the bulls, then it can rally to the 1.1339 level, only if EUR/USD manages to break the 1.1275 level.