EUR/USD is experiencing a downward drift ahead of the European Central Bank's (ECB) upcoming decision and the release of the U.S. Consumer Price Index (CPI) data. The currency pair has faced resistance at the 1.1750 level and is currently trading at 1.1715, marking a decline for the third consecutive day. Despite this, the exchange rate remains above the key support level of 1.1700 within the weekly range.
Market participants are closely monitoring these developments, as the ECB's stance on interest rates and inflation could significantly influence the trading dynamics of the euro against the USD. The upcoming U.S. CPI data is also expected to impact market sentiment, potentially driving further volatility in the EUR/USD exchange rate as traders position themselves ahead of these critical announcements.
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Data Source: FX Killer Analysis Team Updated: 2025-12-18 13:35
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.