EUR/USD Faces Downward Pressure with US Inflation Data Surpassing Expectations

Following the release of US inflation data that surpassed expectations, the currency pair experienced a sharp decline, with initial support identified at the 1.0600 level. A breach of this support level could extend the pair's current downward trend, potentially pushing it towards the 1.0560 level, especially given the formation of a head and shoulders pattern. On the upside, the primary resistance zone is situated between 1.0695 and 1.0720. A breakout above this resistance could provide the price with momentum toward the 1.0805 level.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
1.0805	1.0720	1.0695	1.0600	1.0560	1.0450