Consumer Price Index Ex Food & Energy in the USA for February rose by 0.3% m / m, exceeding the forecast of 0.2%. The favorable data increased pressure on the euro, which was hurt amid the risk aversion, and was depressed before the key event: the Fed's decision regarding the monetary policy. After the meeting, the dollar quotes abruptly turned down. The Euro zone published the Consumer Price Index: at the forecasted -0,2%(y/y) and 0,2% (m/m) against the forecasted 0,1% (m/m).
The first support lies at 1.1260 and then at 1.1150. The first resistance stands at 1.1350, the next one is at 1.1450.
There is a confirmed and a strong buy signal. The price is above the Ichimoku Cloud and it is above the Chinkou Span. The Tenkan-sen shows an upward movement and the Kijun-sen shows a horizontal movement. The upward movement will be until the price is above the Cloud.
The MACD indicator is in a positive territory. The price is growing.
We expect the 1.1350 line break that will open the way for the buyers to 1.1450.