Flash inflation estimates for November surprised to the upside. Headline CPI rose 1.0%, beating forecasts of a 0.8% increase. It was also higher from October’s 0.7% increase. Core inflation rose to 1.3%, up from 1.1% previously.
Will the EUR/USD Breakout Higher?
The currency pair has been consolidating near the psychological level of 1.1000 support over the past week. On a weekly basis, price closed with a Doji at the support. This potentially indicates a move to the upside. The upside resistance at 1.1062 could cap the gains in case of a rally. EURUSD needs to close above 1.1020 to confirm the move to 1.1062.
