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Sep 13 - 08:55 PM

EUR/USD - Back Below Parity After Post-US CPI Tumble

By John Noonan  —  Sep 13 - 07:10 PM
  • EUR/USD opens -1.52% after falling from a pre-CPI high at 1.0188

  • USD soared after hotter than expected US CPI that sent US yields much higher nL1N30K2FHnL1N30K214

  • Market now pricing in possibility of 1.0% Fed hike next week

  • USD likely to remain bid after "inflation has peaked" narrative put to rest

  • EUR/USD close below 10-day MA (0.9984) re-ignites trend lower

  • Support is at Sep 8 low at 0.9931 and trend and 2022 low at 0.9864

  • Resistance is at 10-day MA at 0,9984 and 21-day MA at 1.0001

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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