EURUSD attempts to reverse upwards from support

The EURUSD rate corrected downwards to the 1.1620 support level, where it met active buying interest and is attempting to reverse upwards. Find more details in our analysis for 14 January 2026.

EURUSD forecast: key takeaways

• Market focus: US consumer price inflation rose by 2.7% year-on-year
• Current trend: moving downwards
• EURUSD forecast for 14 January 2026: 1.1620 or 1.1700

Fundamental analysis

US inflation data released yesterday largely met market expectations and had little impact on the outlook for Federal Reserve policy. The US Consumer Price Index remained at 2.7% in December, while the core indicator came in slightly below expectations at 2.6%. The slowdown in inflation confirms the prospect of further Fed rate cuts later this year.

In Europe, ECB Governing Council member François Villeroy de Galhau said on Tuesday that expectations of ECB rate hikes this year are “fantastical.” The ECB left interest rates unchanged in December and raised some of its economic growth and inflation forecasts, reinforcing market expectations that rates will remain at current levels for an extended period.

EURUSD technical analysis

On the H1 chart, EURUSD quotes are attempting to reverse upwards after receiving support from buyers near the 1.1620 level. For further growth, the pair will need to overcome the 1.1700 resistance level, after which the upward move may continue.

The short-term EURUSD price forecast suggests that a rise towards 1.1700 is quite possible in the near term if bulls hold above 1.1620. Conversely, if bears retain control, the decline may continue towards the 1.1600 area.

Summary

The EURUSD pair is attempting to reverse upwards after receiving buyer support at the 1.1620 level. Tomorrow, the eurozone industrial production data for November will be released.

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