The euro remains positive. Inflationary data on the euro area

The single currency recovers against the US dollar, after declining during the Asian session. Support for a single currency is provided by positive data on inflation in the euro area.

• According to published data, the consumer price index in December rose by 0.4%, exceeding the previous value of 0.1%. On an annualized basis, the growth rate remains at 1.4%.
• The base consumer price index rose 0.4% in December, against the November decline of -0.1%. On an annualized basis, the growth rate remains at 0.9%.

Technical analysis: The pair EUR/USD maintains an uptrend in the short term, with the main support level at 1.2200. If the downward correction is resumed and the price is fixed below the 1.2200, one should expect a further decrease in the price of the instrument to 1.2150; 1.2080. The main resistance levels are considered at 1,2300, 1,2330 marks.

Fig. EUR/USD. Current price – $ 1.2240

Alexander Sivtsov