The pair recedes further to the mid-1.1600s following the ECB minutes. The greenback retreats from tops on disappointing CPI figures. ECB’s Council showed concerns about trade dispute on confidence. EUR/USD is now prolonging the leg lower to the mid-1.1600s following the publication of the ECB minutes of the latest meeting, although it has managed to regain some traction on disappointing US inflation figures. EUR/USD off lows on US CPI The European currency is now under further pressure after the ECB’s Council was concerned on the impact on confidence of the ongoing trade conflict. Members of the Council now see that the slowdown could probably extend into the second quarter in some countries, lifting near term risks. However, the greenback lost some upside traction after US inflation figures tracked by the CPI showed headline consumer prices advanced 0.1% MoM during June and 2.9% over the last twelve months. In addition prices stripping food and energy costs rose at an annualized 2.3% and 0.2% inter-month. Further data in the US space showed Initial Claims rose by 214K WoW, taking the 4-Week Average to 223.00K from 224.75K. EUR/USD levels to watch At the moment, the pair is losing 0.14% at 1.1658 and a break below 1.1650 (low Jul.12) would open the door to 1.1648 (21-day sma) and then 1530 (low Jun.19). On the upside, the next resistance emerges at 1.1791 (high Jul.9) seconded by 1.1853 (high Jun.15) and finally 1.1854 (38.2% Fibo of April-May drop). FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next US: Real average hourly earnings for all employees increased 0.1% from May to June FX Street 5 years The pair recedes further to the mid-1.1600s following the ECB minutes. The greenback retreats from tops on disappointing CPI figures. ECB's Council showed concerns about trade dispute on confidence. EUR/USD is now prolonging the leg lower to the mid-1.1600s following the publication of the ECB minutes of the latest meeting, although it has managed to regain some traction on disappointing US inflation figures. EUR/USD off lows on US CPI The European currency is now under further pressure after the ECB's Council was concerned on the impact on confidence of the ongoing trade conflict. Members of the Council now see that… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.