The final inflation figures for the eurozone showed consumer prices rising 1.3% annually in December 2019. The core CPI, which excludes food and energy prices, grew by 1.3% as well. The data was in line with the flash estimates and shows a rebound in consumer prices.
EUR/USD Slips Down to Support
The euro was down by over 0.40% on Friday. The declines accelerated after a failure to build upon the consolidation near the 1.1131 level of support/resistance.
Price action fell to the 1.1100 level and could dip lower to 1.1072. With the Stochastics now back into the oversold level, there is a slight chance of consolidation within the range.
