The EUR/USD pair surged at the weekly opening, trading as high as 1.0528 early in the European session, only to reverse gains and trades in the 1.0460 region ahead of Wall Street’s opening.
EUR/USD Current price: 1.0463 German elections’ result temporarily boosted the Euro, conservative coalition in the makes. The Eurozone confirmed January annualised HICP at 2.7%, as expected. EUR/USD trimmed early gains and seems poised to extend its slide. The Euro rallied on the back of the outcome of the German elections, won by the Conservative Party. Friedrich Merz's conservatives, however, got roughly 28.
7% YoY in January, as previously estimated. The United States macroeconomic calendar will include the January Chicago Fed National Activity Index and a speech from President Donald Trump. EUR/USD short-term technical outlook From a technical point of view, the daily chart for the EUR/USD pair suggests lower lows ahead. The pair retreated sharply after nearing a firmly bearish 100 Simple Moving Average , providing dynamic resistance at around 1.0550.
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