The door to December's 1.1139 high is 1.1024 - 78.6% Dec-April drop

The 200-WMA which helped define Dec's high has since dropped to 1.1068

A 61.8% retracement of drop from 2023 high to 2004 low is 1.1018

Door to 2023 peak is 1.1099 - 78.6% 1.1276-1.0448 fall from 2023 high to low

U.S. CPI is seen unchanged from June's 3.0% yy in July - range f/cs 2.9-3.1%

Traders have been keen buyers ahead the data - roughly doubling longs