EUR/USD registered losses on Tuesday and touched its lowest level in over three weeks below 1.1020.
EUR/USD trades marginally higher on the day near 1.1050. August Consumer Price Index data will be featured in the US economic docket. The technical outlook is yet to highlight a buildup of recovery momentum. The pair benefits from the selling pressure surrounding the US Dollar early Wednesday and trades in positive territory near 1.1050. Investors await August inflation data from the US.
On the upside, immediate resistance is located at 1.1050-1.1060 ahead of1.1100 and 1.1160 . Euro FAQs What is the Euro? The Euro is the currency for the 20 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day.
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