The US dollar plunged after December’s CPI slowed down to 0.5% from 0.8% in November.
Despite a swift recovery from the daily support at 0.9100, price action came under pressure once again at December’s supply area (0.9280). The dive below 0.9180 then 0.9140 is a sign of liquidation as buyers rush to the exit.
As the greenback revisits the critical support at 0.9100, an oversold RSI may attract some buying interest. The former demand area around 0.9200 is now the first resistance level.
