EUR/USD little changed around 1.1415 on ECB QE headlines
The latest ECB headlines had little impact on the Euro, leaving the EUR/USD pair in the familiar range above 1.1400 levels.
EUR/USD: Eyes on US CPI
The EUR/USD pair clings to gains above 1.14 handle amid ongoing subdued trading activity around the US dollar against its major rivals, as markets await the highly-influential US CPI figures for the next direction.
Hence, the common currency remains unperturbed by the latest ECB headlines, citing that the central bank remains wary of putting an end-data in its QE asset purchases program.
Meanwhile, latest chatter doing the rounds that the ECB President Draghi is expected to signal 2018 QE tapering in his Jackson Hole meeting scheduled next month.
Looking ahead, the US economic releases, especially the US inflation report will remain the main determinant for the USD price-action until the FOMC meeting due on July 26th.
EUR/USD Technical Levels
According to Valeria Bednarik, Chief Analyst at FXStreet, “An upward acceleration through the mentioned 1.1425 level could see the pair advancing up to 1.1460, while beyond this last, 1.1490 and 1.1525 are the next short-term resistances and bullish targets. Below 1.1380 on the other hand, the pair could slide down to 1.1340, while once this last gives up, 1.1290, June 28th low comes next.”
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