HomeContributorsTechnical AnalysisEurozone Inflation Picks Up In December

Eurozone Inflation Picks Up In December

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.

Orbex
Orbexhttp://www.orbex.com/en/agent/cl/ccc678cb86b9
At Orbex, we are dedicated to serving our clients responsibly with the latest innovations in forex tools and resources to assist you in trading.

Featured Analysis

Learn Forex Trading