Eurozone March preliminary CPI +1.3% vs +1.4% y/y expectedPrior +0.9%Core CPI +0.9% vs +1.1% y/y expectedPrior +1.1%The readings are lower than estimated, though the headline still reveals an uptick from February to March. But if you strip out higher energy prices, the core reading is seen lower so that still doesn't convince of much higher price pressures in general.Further Development
Analyzing the current trading chart EUR/USD , I found that EUR reached overbought condiiton and that there is potential for the downside continuation.My advice is still to focus on the downside opportunities on the rallies with the downside targets at 1.1700 and 1.1610.
Key Levels:
Resistance: 1.1760Support levels: 1.1700 and 1.1610.
