EUR/USD Seen Dipping Back Towards 1.1400 as Dollar Bounces
The US Dollar Index recovered after a softer PPI reading, potentially rising towards 101 or higher, while EUR/USD may dip back to 1.1400. EURINR could fall further if it breaks below 111.
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The Dollar Index declined following a softer US Producer Price Index (PPI) but has since bounced. Support is seen at 100.30–100.00, and the index may hold above that zone before advancing toward 101 or higher.
EUR/USD is expected to pull back toward the 1.1400 level. Meanwhile, EURINR faces a bearish bias: if the pair stays below 111, it could extend losses.
Source: FXStreet Forex News