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Jul 13 - 08:55 PM

EUR/USD - Opens Lower After Hot U.S. CPI Sends US Yields Higher

By John Noonan  —  Jul 13 - 07:40 PM
  • EUR/USD opens -0.70% and closing below support at 1.1780/85

  • Hotter than expected US CPI sent the USD broadly higher nL1N2OP29F

  • Belief inflation is transitory shaken ahead of Fed Chair Powell testimony

  • EUR/USD trending lower with 5, 10 and 21-day MAs in bearish alignment

  • The objective is the 2021 low at 1.1704 with no support in front

  • Resistance at 10-day MA at 1.1833 and key resistance at 21-day MA at 1.1877

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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