Yesterday in New York, the U.S. inflation data (CPI) was higher than expected. This made U.S. long-term interest rates go up, so the euro became weaker and fell. It went below the previous day’s low of 1.1670 and dropped to 1.1593.
The euro has been falling since reaching its highest point this year (1.1829) on July 1. It also went below the middle line of the Bollinger Bands at 1.1665, which added more pressure to push the euro down.
Also, if talks about tariffs between the U.S. and the EU don’t go well, and the EU decides to add extra taxes (retaliation tariffs), then the euro might fall even more.
Expected Range for EUR/USD: 1.1600 – 1.1700 yen
Note: This information does not guarantee profits. Please make your own decisions when trading.