The euro keeps its positions. Inflation data in the eurozone

The EURO currency maintains its positions against the US dollar after the publication of inflation data in the euro area.

• According to published data, the base consumer price index rose in February by 0.4%, against the decline in the previous period at the level of -1.7%. On an annualized basis, the growth rate remains at 1.0%.
• The consumer price index rose in February by 0.2%, against the January decrease of + 0.9%. In turn, on an annualized basis, the growth slowed to 1.1%, down from the previous level of 1.2%.

Technical analysis: The pair EUR / USD keeps the downtrend on the chart of H1. The main resistance levels I consider at the marks of 1.2380, 1.2420. Support levels are considered in the marks of 1,2270, 1,2230.

Fig. EUR / USD Graph. The current price is $ 1.2323.

Alexander Sivtsov