FxWirePro: EUR/USD slips lower on cooler than expected Euro Zone inflation data

• EUR/USD eased slightly  on Wednesday after Eurozone inflation came in softer than expected, reinforcing expectations that the European Central Bank may adopt a less aggressive stance at its upcoming policy meeting.

• Annual inflation eased to 2.8% in June, below the 3.0% market forecast, reducing the urgency for another ECB interest rate hike on July 23..

• Although June inflation remained above the ECB's 2% target, easing oil prices on hopes of a peace deal have boosted expectations that inflationary pressures will continue to moderate, limiting the broader impact of the recent energy price surge.

• Technical signals are  strongly bullish as RSI is   at 34, daily momentum studies  5, 9 and 10 DMAs are trending down

•   Immediate resistance is located at 1.1432 ( June 30th high), any close above will push the pair towards 1.1497 (38.2%  fib)

• Strong support is seen at 1.1328(23.6%  fib) and break below could take the pair towards 1.1276(Lower BB).

  Recommendation: Good to sell around 1.1390, with stop loss of 1.1450 and target price of 1.1300