On Friday the pair EUR/USD closed with growth caused by the release of positive Eurozone inflation statistics. The end of the previous week was characterized by market volatility. Namely, the price dropped after the increase of FOMC interest rate. However the pair is still under control of the bulls.
Single European currency is stable recently while USD is still strong, This indicates the continuation of the upward trend. The strength of the pair is explained not only by positive statistics in Eurozone but by weak economic indicators from the USA namely inflation and retail sales data published on Friday.
With the opening of the new trading session the pair continued growth and is currently trying to consolidate above 1.1200. No important macroeconomic releases that may influence the dynamics of the price within the pair EUR/USD are scheduled for today, therefore one may expect slight price fluctuations with a small "bullish" advantage.
Support levels: 1.1200, 1.1170, 1.1120.
Resistance levels: 1.1220, 1.1240, 1.1265, 1.1280.
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