EUR/USD opened -0.22% at 1.0729 after whippy reaction to US CPI

The USD broadly eased in Asia and EUR/USD drifted up to 1.0744

Its at the session high heading into the afternoon session

Activity was limited ahead of the ECB decision later today

Economists see a close call on whether the ECB will hike 25 bps or hold

The market is pricing in around a 63% chance of a hike

EUR/USD would likely get a boost if the ECB hikes, but it may not last

Resistance is at 21-day MA at 1.0800 and sustained break would be bullish

Support is at the Sep 7 low at 1.0686 and Oct 2022 low at 1.0635

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