The euro rebounded on Tuesday after prices initially slipped to a fresh two-year low at 1.0925. Economic data from the eurozone was thin. However, the producer prices index report showed a 0.2% increase on the month. This was below the estimates of a 0.3% increase but better than the 0.6% decline in July.
EUR/USD Could Rebound in the Short Term
Price action after the EURUSD fell to a two-year low, which indicates a possible rebound on the horizon. However, the gains will be limited to the recently breached support of 1.1030. A retest of this level to establish resistance will, however, confirm the downside. But the currency pair could remain range bound within 1.1030 and the lows of 1.0925
