The preliminary flash inflation estimates for the Eurozone saw a decline in consumer prices. Data showed that headline inflation rose at a slower pace of 1.2% compared to a 1.4% increase in the month before.
The core inflation rate, however, was steady at 1.2%, rising only slightly from 1.1% earlier.
EUR/USD Maintains its Bullish Streak
The common currency is consolidating within the resistance level of 1.1193 – 1.1176 and the support level of 1.1100. Price action remains bullish as the Stochastics oscillator remains in the overbought levels.
The bullish momentum could see a breakout from one of the levels in the near term.
