Technical Analysis
EURUSD have big potential to buy around 1.07363. This particular area have big resistance or rejection from the previous level higher time frame, it means lots of buyers took profit and sellers decided to involve in. Based on volume indicator the momentum for buyers is weakening.
Fundamental Analysis
But even more importantly, when stripping out volatile food and energy prices, the core PCE price index, which draws even closer scrutiny from Fed policymakers, is set to indicate its lowest annual reading since March 2021.
If that date rings a bell, it’s when core PCE first passed the Fed’s coveted 2% inflation target during this cycle. Despite a series of aggressive interest rate increases since then, the central bank has yet to wrest the pace of price increases back into its target range.
DISCLAIMER: The information on this analysis is based on research and experience, and it is not guaranteed to be accurate