EUR/USD fluctuates in a tight channel above 1.0900 midweek. ECB's Villeroy said a rate cut in spring was probable. US Dollar holds steady following February Consumer Price Index data. The pair fluctuates in a tight channel below 1.0950 in the early European session on Wednesday. The data from the US showed on Tuesday that annual inflation, as measured by the change in the Consumer Price Index , ticked up to 3.2% in February from 3.1% in January.
Strong support is located at 1.0900 before 1.0860 , Fibonacci 38.2% retracement). 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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