German Inflation Falls Below Expectations, ECB Delays Rate Decision

EURUSD is trading at 1.1703, showing a very limited change of +0.04% over the past 24 hours. The RSI stands at 51.9, indicating neutral territory, while the MACD is above its signal line but hovering near zero. Germany's inflation coming in below expectations and the ECB's decision to delay its interest rate decision could put short-term pressure on the Euro. However, the price is holding just above the 20-day SMA (1.1695), with the 50-day SMA (1.1712) acting as resistance. Therefore, waiting for more data or catalysts would be prudent before determining a clear direction.

German inflation coming in below expectations could be positively received by the market, even though the ECB has delayed interest rate cuts. Low inflation keeps expectations of future monetary easing alive, while DAX technical indicators also support the upward trend. The RSI at 62.8 has not approached overbought territory, and the MACD remains positively above its signal line. The price being above the 20- and 50-day moving averages strengthens short-term momentum. However, since the ECB's delay in rate decisions may create uncertainty, the upside could be limited.