The euro fell slightly against the dollar in today's early sessions, due to the state of anticipation prevailing now due to the approaching US Federal Reserve meeting, which will determine whether and when the US central bank will begin lowering interest rates.
Note that the euro against the dollar rose by 0.22% to $1.0786 per euro, reaching 0.24% yesterday.

The annual core consumer price index data revealed a slowdown from November, recording 3.1% in November, down from a rise of 3.2% in October, as was expected.
In particular, investors will be watching to see whether Federal Reserve Chair Jerome Powell will oppose the possibility of lowering interest rates in the first half of 2024.
Any slowdown or stability in US inflation data is considered additional support for expectations of an interest rate cut in the first quarter of next year 2024 by the US Federal Reserve, which raised interest rates to 5.5% levels to reduce inflation and shift it to a sustainable decline to achieve the 2% inflation target, as announced by Jerome Powell, Chairman of the Board of Directors. US Federal Reserve.

According to technical analysis, we notice the occurrence of a new bottom, higher than the previous one, on the daily time frame at 1.075 levels, and stability at these levels.
According to the Relative Strength Index, we note that it settled at the fifty levels, which in turn supports the trend in sideways trading, which is matched by the MACD indicator, which is on its way to zero levels. If a higher peak is formed than the previous one, this will confirm the continuation of the upward trend. In the event of a decline and prices can break the 1.075 level to the bottom, this may lead to the end of the upward trend movement and the formation of a new trend.

*All data provided is intended for educational or informational purposes only and should not be considered investment advice.