BREAKING: EUR muted after CPI inflation report

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Inflation rate in the Euro Area dropped to 1.90% in June from 2% in May, in line with market expectations. Core consumer prices increased 0.90% in June over the same month in the previous year also matching analysts' estimates.

EURUSD bounced off the 1.1800 support before today's data releases and is currently testing 50 SMA (green line). Should break hgher occur, upward move may acclerate towards resistance at 1.1840 which coicides with upper limit of the triangle formation. Source:xStation5

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