PERU: Annual CPI Rises to 1.51% in December, PetroPeru in Focus

• RES 4: 1.1779 High Oct 1   
• RES 3: 1.1747 50.0% retracement of the Sep 17 - Nov 5 bear leg
• RES 2: 1.1728 High Oct 17
• RES 1: 1.1694 50.0% retracement of the Sep 17 - Nov 5 bear leg 
• PRICE: 1.1663 @ 10:50 GMT Dec 3
• SUP 1: 1.1584 20-day EMA 
• SUP 2: 1.1547 Low Nov 26
• SUP 3: 1.1491/1469 Low Nov 21
• SUP 4: 1.1469 Low Nov 5 and the bear trigger  

EURUSD is trading higher and this has resulted in a breach of key short-term resistance at 1.1656, the Nov 13 high and a bull trigger. Clearance of this level highlights a potential reversal and opens 1.1694 next, a Fibonacci retracement. Clearance of this retracement point would strengthen the developing bull theme. Initial support to watch is 1.1584, the 20-day EMA. A break would be bearish.

SFIM6 97.00c, bought for 2.5 in 5k.

• EURUSD is currently testing above key resistance and the bull trigger at 1.1656 (Nov 13 high). Prediction market odds for a Russia/Ukraine ceasefire by the end of '26 remain around 50%, however, the latest headlines from the Kremlin may be providing some more tepid optimism relating to the peace talks.
• While the Kremlin acknowledged that some things were accepted and others rejected as unacceptable, this is part of a normal working process. The kremlin adds it would be wrong to say that Putin rejected the US plan on Ukraine, they said it was a first exchange of opinions.
• Overall, the risk backdrop remains stable Wednesday, allowing the major indices and crypto markets to edge higher and provide a negative tilt to the US dollar. The greenback tone was also set late last night as President Trump’s nod towards Kevin Hassett potentially becoming the next Fed Chair confirms the dovish bias to market Fed pricing for 2026.
• Of additional importance for EURUSD, the week’s advance cancelled a doji reversal signal from last Thursday, and above 1.1656, the immediate focus turns to 1.1694, a retracement level and 1.1728, the Oct 17 high.