EUR/USD opens +1.67% after USD was crushed following softer US CPI nL1N3CF2NJ

Fed expectations turned decidedly dovish as US yields plunged nL1N3CF2B2

The market is now pricing in over 100 bps of Fed cuts in 2024

EUR/USD raced above the key 200-day MA (1.0803) and that is now support

More support is at former resistance at 1.0655/65 where buying is tipped

Resistance is at the 61.8 of the July-Oct fall at 1.0959

EUR/USD trending higher with the 5, 10 & 21-day MAs in a bullish alignment

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