The EURUSD is moving higher after the better-than-expected CPI data. On the move to the upside, the price is testing a swing area between 1.10669 and 1.1075. That area comes before the extremes for the year between 1.1091 and 1.1095.
Buyers remain in firm control. Obviously, the highs for the year are the next target to get through and through, but the fundamentals from the lower-than-expected CPI, lower yields are keeping the US dollar under pressure.
This article was written by Greg Michalowski at www.forexlive.com. Source