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Dec 12 - 03:55 PM

EUR/USD - Rally Fades As US CPI Is Now In Focus

By Christopher Romano  —  Dec 12 - 01:35 PM
  • EUR/USD rallied in Europe's morning, NY opened near 1.0565, rally extended

  • Pair hit 1.0580 on EBS but gains were erased & EUR/USD turned negative

  • US rate US2YT=RR gains helped rally the US$; USD/CNH neared 6.9950

  • Commodity HGv1, XAU= drops helped drive further US$ gains

  • EUR/USD fell below 1.0520, neared 1.0515 late in the session

  • Techs are mixed; daily inverted hammer formed, daily RSI is falling

  • Monthly RSI is rising, consolidation ongoing, pair above the 10-DMA

  • EUR/USD can clear major impediment with CPI, Fed help nL1N3321A8

  • For more click on FXBUZ



Source:
Refinitiv IFR Research/Market Commentary

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