EURUSD dropped yesterday and closed at 1.2644. The United States dollar gained ground against its European counterpart after data released from the US revealed that the Consumer Price Index in the largest economy of the world unexpectedly rose 0.1 percent in September. The Crude Oil Inventories in the US remained at 0.1 percent. The Crude Oil Inventories in the US came out at 7.1M during the last week.
Data released today showed that the German Flash Manufacturing PMI rose to 51.8 in October.
Investors are now looking forward for the Unemployment Claims report due from the United States later today.
Support for the EURUSD is seen at 1.2624 and resistance is seen at 1.2785.
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