The euro gave back the gains from earlier in the week. Economic data shed light on the annual inflation report.
Consumer prices in the eurozone rose by 1.0% on the headline for the year ending November 2019. This was in line with the flash forecasts.
Core CPI was also within estimates, rising 1.3% annually.
EUR/USD Could Rebound in the Near Term
The currency pair fell past the 1.1131 level. The current pace of declines will see the common currency testing the lower price level at 1.1100.
It is quite likely that the currency pair will rebound off this level. The Stochastics oscillator is looking to move out from the oversold levels. But in the short term, the EURUSD will remain range-bound within 1.1177 and 1.1072.
