Current trend
The Euro continues its decline against the US Dollar.
The European Central Bank holds in monetary policy meeting on Thursday and is expected to keep the interest rate unchanged. However, there is a chance that the regulator will expand its stimulus that will lead to further weakening in the Euro.
The US Dollar, on its part, was supported by data on the Consumer Price Index, which grew by 0.3% in September from a month earlier. Over the past year, inflation accelerated by 1.5%. The inflation pressure raises the likelihood of an interest rate increase this year.
Support and resistance
The nearest support level is at 1.0694.
The nearest resistance level is at 1.1025.
Trading tips
Short positions can be opened from the level of 1.0964 with the target at 1.0950 and stop-loss at 1.1000.
The Euro continues its decline against the US Dollar.
The European Central Bank holds in monetary policy meeting on Thursday and is expected to keep the interest rate unchanged. However, there is a chance that the regulator will expand its stimulus that will lead to further weakening in the Euro.
The US Dollar, on its part, was supported by data on the Consumer Price Index, which grew by 0.3% in September from a month earlier. Over the past year, inflation accelerated by 1.5%. The inflation pressure raises the likelihood of an interest rate increase this year.
Support and resistance
The nearest support level is at 1.0694.
The nearest resistance level is at 1.1025.
Trading tips
Short positions can be opened from the level of 1.0964 with the target at 1.0950 and stop-loss at 1.1000.