EUR/USD remains pinned around the 1.1900 mark... (New target)

EUR/USD remains pinned around the 1.1900 mark (1.1884-1916 range), awaiting further direction/influence, with the softer-than-expected ZEW prompting some modest unstained downticks. However look at the prior swings in correlation to the Fibonacci movements, we should expect some downside action over the next few weeks.

Again, a choppy session thus far within a relatively tight 92.092-302 range for the dollar despite US yields earnings higher as participants remain on standby for the US CPI print later today with the M/M forecast at 0.5% and the Y/Y at 2.4%. Analysts at ING argue that such an outcome could add to the narrative that US inflation is starting to overheat.