The euro has started recover upside momentum against the U.S dollar, after the single currency declined sharply lower, following the release of the ECB Meeting Minutes. The EURUSD pair currently trades around the 1.2330 level, after finding strong dip-buying demand from the key 1.2300 support level on Thursday. Traders now look towards CPI inflation figures from the German economy, with the 1.2333 level the pivotal intraday level to watch.
The EURUSD pair is only bullish while trading above the 1.2333 level, key intraday resistance is currently located at the 1.2382 and 1.2396 levels.
If the EURUSD pair trades below 1.2333 level, sellers may start to target the 1.2300 and 1.2275 support levels.
