USD Woes Continue After PPI Data

New opportunities are arising in the forex markets as the US Dollar moved lower for a third consecutive session despite December’s inflation data coming in at record highs.

The Dollar Index (DXY) recorded its biggest one day decline since November following Wednesday’s CPI print, and could be eyeing more downside having broken its long-term trendline support.

However, this weakness has also provided other major currencies the opportunity to rally against the USD. One such pair is EUR/USD with the pair breaking out of its rising triangle and now looking to test a confluence of key resistance levels.

Can the USD reverse some of its losses next week?

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